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Countdown to Brexit

The UK’s general election on December 12 may finally bring some long‑awaited clarity over Brexit—or it may deliver an extended period of uncertainty and confusion. The poll will almost certainly be regarded as an unofficial vote on Brexit by most of the UK electorate, despite the likely attempts from the various parties to promote policies in other areas, such as the economy and public services. As such, tactical voting—where voters support a candidate other than their first choice in order to prevent an undesirable outcome—is likely to play a bigger‑than‑usual role in determining the result. This makes the election highly unpredictable.

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Date: November 2019
Author: Quentin Fitzsimmons


Prime Minister Boris Johnson is engaged in a fierce battle with the UK Parliament as the October 31 Brexit deadline approaches. The UK Supreme Court’s ruling that Mr. Johnson’s prorogation of Parliament was unlawful was the latest in a series of setbacks for the prime minister, who has suffered a number of parliamentary defeats since he took office. The most important of those was Parliament’s approval of a bill that gives Mr. Johnson until October 19 to either pass a Brexit deal in Parliament or persuade lawmakers to approve a no‑deal Brexit. When that deadline passes, Mr. Johnson will be compelled to ask the European Union (EU) for a Brexit extension to January 31, 2020—something that he has said that he would rather be “dead in a ditch” than do. A major battle between Mr. Johnson and Parliament, where the government no longer has a majority, lies ahead.

In the sixth of a series of updates, Quentin Fitzsimmons, fixed income portfolio manager and T. Rowe Price’s resident Brexit specialist, provides an overview of the current state of play.

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Date: September 2019
Author: Quentin Fitzsimmons


New British Prime Minister Boris Johnson has vowed to either secure a better Brexit deal from the EU or take the UK out of the bloc without a deal on October 31. However, the EU is almost certain to refuse to renegotiate the existing deal, and the UK Parliament will seek to block a no-deal exit. Significant challenges lie ahead.

In the fifth of a series of updates, Quentin Fitzsimmons, fixed income portfolio manager and T. Rowe Price’s resident Brexit specialist, provides an overview of the current state of play.

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Quentin Fitzsimmons
Fixed Income Portfolio Manager


The UK is scheduled to leave the EU this Friday. Whether it does or not depends on the outcome of this week’s EU summit. The UK has asked for a further delay to Brexit to June 30, but EU President Donald Tusk is reported to favor a longer, “flexible” extension of up to a year, with the option of cutting it short if parliament approves a deal. For any extension to be granted, all EU leaders must agree to it—and this is not a guaranteed outcome.

In the fourth of a series of updates, Quentin Fitzsimmons, fixed income portfolio manager and T. Rowe Price’s resident Brexit specialist, provides an overview of the current state of play.

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Quentin Fitzsimmons
Fixed Income Portfolio Manager 


The UK remains scheduled to leave the EU on March 29, although it is unclear whether this will happen and under what terms. The prospect of Theresa May’s deal with the EU being brought back to Parliament for a third time seems to have diminished sharply following an intervention from House of Commons Speaker John Bercow. This increased the likelihood of both an extension to Article 50 and a no-deal Brexit.

In the third of a series of updates, Quentin Fitzsimmons, fixed income portfolio manager and T. Rowe Price’s resident Brexit specialist, provides an overview of the current state of play.

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Quentin Fitzsimmons
Fixed Income Portfolio Manager
 


The UK is scheduled to leave the EU on March 29. Although this is less than a month away, a range of possible outcomes remain possible—although clarity has emerged in certain areas since last week.

In the second of a weekly series of updates, Quentin Fitzsimmons, fixed income portfolio manager and T. Rowe Price’s resident Brexit specialist, provides an overview of the current state of play.

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Quentin Fitzsimmons
Fixed Income Portfolio Manager


The UK is scheduled to leave the European Union (EU) on March 29, 2019. While the date is fast approaching, a number of outcomes are still possible—and a range of potential pathways to those outcomes.

In the first of a series of updates in the lead up to March 29, Quentin Fitzsimmons, Fixed Income Portfolio Manager and resident Brexit specialist, provides an overview of the current state of play. The UK Prime Minister Theresa May continues to seek parliamentary approval for an exit deal between the EU and the UK. However, the potential for the UK to exit without a deal or for a delay to Brexit remains high.

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Quentin Fitzsimmons
Fixed Income Portfolio Manager

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