The UK election is about capitalism vs. socialism.
With just two weeks to go until Christmas UK voters are being handed a political present that no-one is very keen to unwrap… a third general election in four years. The frustration and anger with politicians here are similar to what we see in the United States.
People are simply fed up with the angst, vitriol and downright nastiness that is synonymous with politics today. Trustworthy is not a word often used among constituents who are now more apathetic about the outcome than ever before.
It may all sound a little dreary but it’s the truth. There is no longer any honor in bi-partisanship and that means nothing gets done. That is exactly why we’re having another election in the UK. The British parliament is hopelessly deadlocked over Brexit and going back to the voters is the only answer to create a pathway and move on. Former Prime Minister Theresa May did just that and was left with egg on her face when she actually lost seats in Parliament. If you believe the polls, this time Boris Johnson will gather the seats he needs and his Brexit plan will finally be approved.
It’s striking how UK politics reflect what’s going on in the United States. On the Conservative or Republican side, the message is lower taxes and regulation, more trade deals and more empowerment for the individual. On the Labour or Democrat side, the message is higher taxes on businesses and the wealthy, greater government involvement and a belief that the current situation is dire and headed for ruin.
A win for Boris will eliminate the uncertainty, UK business will be able to make their plans and the financial markets will likely move in lockstep with the Sterling higher. It will also open the door to a new trade deal with the U.S that President Trump is touting as significantly bigger and better. The future is optimistic.
If Jeremy Corbyn’s Labour party delivers a shock victory, Britain’s business model will see a radical change.
He plans to nationalize UK utilities in the first 100 days in office, dramatically expand the role of government and boost public spending to historic levels. Throw in a 32 hour work week, give ten percent of company shares to workers and increase the power of unions and you’ll understand how much is at stake.
All of this could act as a precursor for the U.S in 2020, a stark choice between capitalism and socialism, a win for Boris Johnson will be a good omen for Donald trump.