Mr Johnson stated that he wished to pursue “a very exciting agenda” focussing on violent crime, education funding, infrastructure, the cost of living and the health service.
It would appear however that Brexit is the fundamental motivation in Mr Johnson’s decision making. The prorogation whittles down the number of sitting days his opponents have to frustrate Mr Johnson’s plans by 3.
The government’s plan increases the likelihood of Britain exiting the EU without a formal deal on WTO terms. The announcement did cause a drop in the value of the pound by just over 1%. It fell from 1.2283 on the U.S. Dollar (USD) at 08:30 AM on August 28 to 1.2174 at 09:45.
The FTSE 100 was down 0.29% at 7,069.47 following the announcement but rose to 7,106.77 as of 15:47.
By the same time, sterling had recovered to 1.2206, calming initial fears of a nosedive.
The currency has recovered somewhat from the near-historic low of 1.2060 earlier this month, although fears surrounding a “no-deal” Brexit remain.
Charles Hepworth, an investment director at fund manager GAM, observed that “Soggy politics and an ineffective opposition means UK risk assets still are for the brave (or foolhardy).”
Such bearishness about the state and future UK economy is not shared by all; unemployment is still at near-record lows, manufacturing is taking advantage of a weaker pound while Britain’s service sector witnessed an unexpected rise in economic output only last month.
Boris Johnson’s prorogation has been slammed by a variety of figures; from the Labour leader Jeremy Corbyn who described it as “a threat to our democracy”; to the supposedly impartial Speaker of the House of Commons, John Bercow, who called it a “constitutional outrage.”
Johnson’s American counterpart Donald Trump leapt to his defence following the announcement dubbing him a future “great one!”c