Gentlemen (and gentlewomen, plus everything else in between), let’s raise a glass and say a collective “Halleluiah” for the spectacular election result orchestrated by Captain Boris.
Today will go down in history as a political earthquake. The Boris victory (with grateful thanks to Dominic Cummings) is a seismic event that should ensure there will be a moderate, caring, stable, Tory government for not just one, but possibly two electoral terms.
All the slippery anti-Brexit manoeuvres, vicious Marxism and playground shenanigans that turned our august, thousand-year old parliament into a goat rodeo are well and truly behind us. Unusually for a politician, Boris took the bold move of actually listening to the British electorate. Fortune favoured the brave and he has now gained his place in the pantheon of the great.
An unassailable mandate
The new government will have an unassailable mandate to deal with the transferral Brexit deal. This might be an early Christmas present; but it must take place by the end of January 2020. I would put money on the subsequent trade agreements to be comfortably bedded-in by the end of 2020.
He said he would do it and by golly he did!
The Pound is on a confident, upward trajectory. I predict that will go back to its 1.40 to 1.45 pre-Referendum range against the Dollar, reflecting investors’ enlivened confidence in the UK.
This resounding electoral victory is all the more remarkable when you realise it comes after nine years of a Tory administration. Most delicious of all, the Labour Party has been walloped for the fourth time. The dead-in-the-water Reds are now shedding angst-ridden tears and blaming everything other than their chippy, unpopular neo-Marxist policies and toxic leader.
Inflation is under control and I see Interest Rates being reduced from their present low level. Five-year fixed rate mortgages are now available at 1.5%, bringing stability to the mortgage market. The FTSE will surge to reflect the new confidence in the Tory administration and I believe that February’s Budget will be bold and courageous.
Chancellor Sajid Javid is, above all, a pragmatist. He realises that tax is a revenue-raising device and not a weapon to ‘redistribute’ wealth and penalise the ambitious. Therefore, a drop in higher-end Stamp Duty could be justified in terms of channelling money to the Exchequer.
Healthy growth for the Property Market
I see property in the middle to upper regions across the UK enjoying some healthy growth next year, going from 3% to 5% as stock overhangs become absorbed by buyers with renewed vigour and confidence. This is a trend that will be fuelled by affordable mortgages.
Although a stronger Pound will make UK property more expensive on the international scene, this effect will be offset by renewed confidence in a Tory administration whose purpose is to provide an attractive economic, political and socially-aware environment for these buyers.
We will have controlled immigration to provide the much-needed manpower to run commerce and social services for the future.
And now that uncertainty is consigned to the dustbin, my prediction is that a tide of money will flow in to this country.
Junk into gold
Boris took the mantle of power at the most inauspicious time. Despite the cacophony of detractors – and there were many – he was able to turn junk into gold for the benefit of the whole nation, not just the elite, metropolitan few.
Our Jewish friends can breathe a sigh of relief that the anti-semitism of Labour won’t be national policy.
We trust that Boris will ‘Get It All Done’ and remove the constraints that have been stifling UK growth. Then Britain can fly free in the new post-Brexit era and be the proud, productive, dynamic nation that we know is possible.
This is a halleluiah moment, so let’s rejoice!