Investors in the currency market reacted fastest: Already in the late morning shot on Monday the exchange rate of the pound against the dollar suddenly upwards. About an hour later until the confirmation came: Britain’s next prime minister Theresa May’s because her opponent, Andrea Leadsom, withdrew her candidacy.. The current Prime Minister David Cameron announced then in the afternoon, that he withdraws early as Wednesday. Then Home Secretary Theresa May will take over the office.
Not only from the perspective of the financial market, but also from the perspective of many companies at home and abroad, the quick decision for May two advantages. First, now the political vacuum in the UK, after the Proposed referendum on United Kingdom membership of the European Union referendum expected to be completed much faster than expected. The previously feared stalemate until early September precipitates. The country needs given the political and economic uncertainty, which brings the EU-outlet with it urgently a viable new government could be formed quickly now. Especially the parteiintern controversial Chancellor George Osborne could to be superseded. Secondly, it is a lot to be relieved in the economy that the EU respondent Leadsom out of the race, and now the former Interior Minister May moves into the seat of government in London’s Downing Street. Most managers and investors have the withdrawal from the EU not want.
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Unlike Leadsom has the 59 years old May – albeit hesitantly and rather half-heartedly – on the side of the pro-Europeans asked: It is an EU skeptic, but it is not hard bein EU respondent. The – so the hope in the economy – could facilitate a compromise in the upcoming difficult negotiations on future trade relations between the UK and the EU. May is a veteran politician with years of experience in government.
The most important political positions
So what are the key policy positions of the designated prime minister from? Mays most basic definition is: A second EU referendum and a cop-out from the Proposed referendum on United Kingdom membership of the European Union are not up for debate. “Proposed referendum on United Kingdom membership of the European Union means Proposed referendum on United Kingdom membership of the European Union, and we will make a success of it,” May said Monday in a speech in Birmingham. In recent weeks, there have always been against it speculation, the referendum could be revised.
At the same time emphasizes May that the hitherto free movement of workers from other European countries must be limited. “The Proposed referendum on United Kingdom membership of the European Union-vote was a clear message to us,” she said last week. This position is the talks of the new British government with the EU on future trade relations more difficult, because the EU insists previously that the Britons should only continue to get free access to the internal market if they keep open in return their own labor market.
on the other hand, however, many Brits have mainly therefore voted in favor of the Proposed referendum on United Kingdom membership of the European Union, because they do not want to accept more open borders. The future prime minister has so hinbekommen a difficult balance of interests in the trade negotiations with the EU: Britain must “manage migration, but also reach the best possible agreement for trade in goods and services,” said May
Stronger engagement. in business
the future prime minister signaled also that their government wants a more interventionist in the economy than in the past: “We must ensure that our economy benefits all. For it is evident to everyone that the people feel that this is currently not the case, “May wrote on Monday in a commentary for the London newspaper” The Times “. . In the UK, the vote for the Proposed referendum on United Kingdom membership of the European Union is seen as a lesson for the economic and political elites in the country, who campaigned against the referendum majority for remaining in the EU
May announced on Monday on concrete measures: She wants to undertake large enterprises to receive representatives of workers and customers in its directors. Unlike in German supervisory boards are employee representatives on the boards on the island so far not mandatory. British directors came “often from the same narrow social and professional circles” as the operational management, they should be supervised, criticized May.
The new strong woman in British politics will also combat the explosion of executive pay. Shareholders large public companies should get the right to appeal to the general meeting to veto excessive executive salaries. The government in London has indeed been strengthened in recent years, the shareholders’ rights in this field. But so far the owners have no binding veto on the remuneration of their company. High salaries of top managers at British companies such as WPP, BP and Burberry have led in recent years repeatedly shareholder revolts.
The British economy reacted cautiously to the announcements Mays. The recent reforms in the rules for executive pay are “balanced”, the CBI, the leading trade association stated in the United Kingdom. The plans to bring employees to the Board of Directors would have to “be discussed” between business and government. That clarification would, among other things, how the voting rights of employee representatives are to look.
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