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Concern of Johnson's return.

 Jane Foley, head of the currency strategy at Rabobank, said Johnson’s government had been «very distracted by one scandal after another» and «the chance that that could come back is not going to be welcomed by markets». Simon French, an economist at Panmure Gordon, said the UK would benefit from a «dullness dividend» if Sunak replaced Truss. Sunak’s supporters expect him to keep Jeremy Hunt as chancellor. A combination French forecast would close the spread between gilts and sovereign debt held by other G7 countries by 50 basis points, equating to a £7bn reduction in the 2026/27 fiscal gap. Berenberg analysts said there were more significant risks from a Johnson government and that Sunak and Penny Mordaunt, the Leader of the House who declared her candidacy yesterday, would likely preside over predictable centre-right administrations.



«Given that a majority of Conservative MPs probably do not want Johnson as their leader, the prospects of mass resignations and a further descent into chaos would loom large,» the bank said. Sunak is expected to reach 100 nominations in the next 24 hours. By yesterday evening, he had 70 declared backers, Johnson 30 and Mordaunt 17.

P.S By this Sunak has reached the 100 nominations 

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  1. Timothy22 October 2022 at 14:53

    A potential return of Boris Johnson would be almost catastrophic I think. The UK must not go back in time, it must move forward. Johnson and Truss have both been bad for the country so something new is clearly needed. Let's hope Sunak will think a bit more before coming up with all sorts of "clever" ideas that turn the pound upside down.

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