News: Post Brexit: Theresa May becomes the new Prime Minister

Leadership

Post Brexit: Theresa May becomes the new Prime Minister

With Britain finally making up its mind to depart from the unionized markets of Europe, the appointment of the new Prime Minister comes as a relief to the UK population. But the journey ahead would be equally important for the United Kingdom get out of the crisis.
Post Brexit: Theresa May becomes the new Prime Minister

On the 23rd of June, Britain with its constituencies of England, Scotland, Wales and Northern Ireland voted on the matter of a possible exit from the European Union.  What seemed to be vision for the Conservative Party, has now turned into a reality for the country of over 64 million individuals. But in these tumultuous times it was the county’s leadership that faltered. But with the appointment of Theresa May as the Prime minister, things are expected to take a turn for the better.  After the resignation of David Cameroon and successive Conservative Party members like Boris Johnson taking back their nominations of for the Prime Ministerial position, Theresa May, the current Leader of the Conservative Party has finally taken up the mantle. Reaffirming her vision to stay true to the results of the referendum result post her appointment, May announced that “Brexit means Brexit, and we are going to make a success of it.”  Following the resignation of David Cameron on 24 June 2016, May announced her candidacy for the leadership of the Conservative Party and quickly emerged as the front-runner. She won the first ballot of Conservative MPs on the 5th of July by a significant margin, and with Andrea Leadsom withdrawal, she sealed her victory and was appointed prime minister two days later.

This rapid ascent to the helm of affairs makes Theresa May the second female UK Prime Minister after Magaret Thatcher. But unlike the tough economic situations that Thatcher, or for that matter most recent Prime Ministers have faced, Theresa today is responsible for charting a completely new path for its country’s growth. After its exit from the European Union, Britain is now responsible for establishing an independent set of trade negotiations with the European Union in order to access the markets of Europe. This entails hammering out trade details with a body that the UK has recently chosen to leave; which might prove to be a difficult bargain for Britain. The other core issue the new Prime Minister would have to face is the key concern of immigration as the route Britain decides to take will significantly impact both the jobs and education sector. Having served as home secretary, the UK’s top social and domestic Cabinet post she has repeatedly expressed vociferous opposition to the UK’s historically high immigration levels. 

With over 48 percent of the total turnout of for the referendum voted to remain, Theresa May might not find it easy to tow a hard line on immigrations. With places like London, Scotland, and Northern Ireland overwhelmingly voting to maintain the status quo, the Prime Minister now needs to take balanced measures to ensure that businesses are able to sustain the country’s economic growth.  Her efforts are would greatly define how confident businesses are to operate in the country. As businesses look at the impact of Brexit decision and potentially re-structure their operations and move parts of their business to the continent, Theresa Mays role in regaining their confidence becomes critical for country’s economic situation. The exit from the European Union is likely to affect jobs in the UK across the board: from plant workers in manufacturing set-ups to high-profile professionals in investment banking. A recent article in The Guardian mentions that the sectors that will be most affected will be the service sectors that trade with the EU, as well as financial services, tourism and car manufacturing. Additionally, the country stands to lose its image as a profitable business destinations as in the current situation it is likely that fewer companies look at UK to set up new operations and offer jobs to the local workforce.  

With such critical issues to solve and remove the current ambiguity future of businesses, May has a lot riding on her back. But with her reputation of bringing a sense of seriousness and practicality to the job, she might just be the right person for to lead the UK out this crisis situation.

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