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UK Parliament Speaker Bercow Announces Resignation

Courtesy of ZeroHedge View original post here.

UK Parliament Speaker Bercow Announces Resignation

In the latest resignation announcement from a key figure in the UK government, Commons Speaker John Bercow, who has faced scrutiny and even an attempt by some of his fellow Tories to oust him , said Monday afternoon (London Time) said he would stand down as Speaker by the end of October.

Bercow's announcement prompted the pound to soften against the dollar.

Source: Bloomberg

The pound started to weaken earlier on Monday after the Queen assented to a law prohibiting a no deal Brexit. That law was passed by the House of Lords on Monday, and by the House of Commons last week.

Source: Bloomberg

Bercow said that if the Commons votes for an early general election, his tenure as Speaker and as an MP will end when this Parliament ends. And if MPs do not vote for an election, Bercow has concluded that the least disruptive option for him would be to stand down at the close of business on Oct. 31, according to the Guardian.

Serving as speaker has been "the greatest honor of my life," Bercow said during his announcement before the Commons. He has served as an MP for 22 years, and Speaker for 10.

The speaker's role in the Commons is to stand up for the rights of MPs, and to stand up for Parliament as an institution, Bercow said. He then wished his successor "all the best".

Following the conclusion of his speech, Bercow received a round of applause, with the loudest clapping coming from the back benches. During his tenure – and particularly during the past year as the battle over Brexit has raged in the Commons – Bercow became known for standing up for the rights of backbenchers, whom he helped wrest control of Parliament from Theresa May earlier this year. Bercow described himself as a "backstop" for backbenchers. As he thanked his wife and three children, Bercow started to become emotional.

The speaker said he promised his wife and family during the 2017 election that this vote would be his last (though this is the first the public is hearing about it).

The votes on the Queen’s Speech are taking place early this week, and Bercow said it would make sense to have an experienced Speaker in the chair for those votes.

 


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