I think these are accurate.
The results are in and it looks like the Conservative party will have an 80-seat majority. This is much more than polling had suggested; it is the best Conservative result since the 1987 elections under Margaret Thatcher and the worst Labour one since 1935. We expected a Tory victory, but not of this magnitude. The pound and other UK markets have surged in response.
(1) Brexit is done. The UK will withdraw from the EU under the terms of Boris Johnson’s Brexit Withdrawal Agreement. Although the larger question of the future trading arrangement will remain, Boris can tout formal delivery of his promise for the UK to leave the EU.
(2) Extension of transition period. Of course, within the Withdrawal Agreement is a transition period for the UK to remain in the Single Market until the end of 2020. During this time, a new trading arrangement must be negotiated, but this will be extremely difficult within the deadline.
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(3) The UK has leverage over the EU. For the past three years, a disunited UK government has been met by a united EU. Now, the roles will be reversed.
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(4) The UK will avoid hard Brexit. While no deal will be as good as staying in the EU, the likely deal will be in the ‘soft Brexit’ category.
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(5) Austerity is over. First, there has been a global shift away from austerity whether in the US or even IMF recommendations. Second, the Conservative manifesto has promised more public spending and typically the Conservatives overshoot manifesto promises. Third, given the new geographical gains, the Conservatives will likely focus on poverty alleviation. This means austerity is out, and fiscal stimulus is in. This should also provide another cushion during any transition period.(6) Taxes have to rise somewhere. With a probable ambitious public spending programme, tax revenues will have to increase. Growth alone is probably insufficient.
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(7) Scottish risks. The other big winner was the Scottish National Party (SNP) – they almost had a clean sweep in Scotland. This will likely bring to the fore calls for a Scottish independence vote.
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(8) Labour party still at risk post-Corbyn. In 1983, Labour leader Michael Foot suffered one of the party’s worst defeats.
https://macrohive.com/hive-exclusives/my-8-takeaways-from-the-uk-election-result