Commons 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 after the Queen assented to a law prohibiting a no deal Brexit.

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.

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.