EDITORIAL: New era for UK and the world

Yesterday the world watched as Britain’s new Prime Minister, Theresa May, took over the reins of power and moved into 10 Downing Street, following the resignation of David Cameron – the first casualty following the June 23 Brexit vote.

 

She is the first female leader of that country since the ‘Iron Lady’ – Baroness Margaret Thatcher, the longest serving prime minister in the 20th century, who held the premiership from 1979 to 1990. And while May achieved the job by default, being the only one who was seeking the post after others abandoned their bids, it does not make her accomplishment any less important. So we congratulate her on her elevation to the office, and wish her all the best, knowing she is now the one tasked with executing the United Kingdom’s divorce from the European Union, to whom it has been married for over two decades.

 

So it is no surprise that there have been some in the UK and across the world, including here in the Caribbean, who have been hoping that the UK will rethink its position, particularly in light of the petition which garnered some four million signatures calling for a second Brexit referendum. But May has said that there will be no do over and “Brexit means Brexit”. So Britain will move ahead with the plan to leave the EU following the referendum, which saw 48 per cent of the voters not in favour of leaving the 28-nation union.

 

May certainly has a tough road ahead of her as she tries to heal a divided party and even more so, a country divided almost down the middle on the issue; remember London and Scotland in particular voted to remain. As she tries then to distance herself from Cameron’s tainted legacy and also stand in her own shoes (as she will no doubt be compared to the only other female to have held that post) she is likely to face a defining moment in her own prime ministerial career quite soon, if Scotland does forge ahead with the second independence referendum in as many years. So she may have to deal with not one, but two exits.

 

Another major task for her is to fix the economy, given that in the aftermath of the Brexit vote, the British pound plummeted to its lowest level in over 30 years. We acknowledge it seems to be rising again, but no one can ignore that the country’s credit rating also dropped. We here in Barbados know only too well the negative impact these downgrades from credit rating agencies can have and again we wish this new Government all the best in addressing the challenges.

 

One can only hope then that the Brexit is indeed successful and there are no major repercussions for Britain, a country from which we source the majority of our visitors and which is also a major trading partner. Barbados must therefore start to devise plans to deal with the possible outcomes and ensure we are able to turn a negative into a positive, so that this country does not suffer a further setback in its economy, when it finally seems there is a light at the end of the tunnel.

 

On another note, it must also be pointed out that May’s taking over of that post comes at a time when another powerful nation, the United States of America, is also considering voting for a woman to lead that nation. We can’t help but wonder whether May’s appointment will in any way affect the outcome across the pond.