Free Trial

Brexit Debates Set To Re-Emerge After Watershed Northern Ireland Election

EU-UK

The ongoing difficulties posed by the Northern Ireland protocol to UK-EU relations and trade are set to come back to the forefront following the 5 May Northern Ireland Assembly elections. Politicians in Westminster, Dublin, and Brussels have remained largely quiet during the Assembly election campaign, for fear of being accused of influencing the election.

  • On 10 May, the UK gov't holds the State Opening of Parliament with the Queen's Speech outlining the coming legislative agenda. There has been speculation that the gov't could announce the suspension of the NI protocol of the Brexit Withdrawal Agreement if there is no renegotiation of the provision.
  • The political atmosphere in NI and the UK could be much-altered post-5 May, with the Irish republican (pro-reunification) Sinn Fein looking likely to emerge as the largest party in Stormont for the first time, according to recent polls (see chart below).
Chart 1. Northern Ireland Assembly Election Opinion Polling, %

Source: LucidTalk, Social Market Research, MNI.

  • Since the resignation of Democratic Unionist Party (DUP) First Minister Paul Givan in February in objection to the protocol, there has been no Executive in place in NI, making reaching a deal on a renegotiated NIP very difficult. It remains to be seen whether the DUP (which since 2007 are the only party to have helt the FM position) would countenance holding the Deputy FM role under Sinn Fein (despite the DFM role holding equal powers to the FM).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.