A politician who thrives on drama and attention, Boris Johnson’s bombshell resignation on Friday night was true to form: once again the former prime minister left Westminster reeling, while also throwing in grenades against enemies that will ensure he remains in the spotlight for some time yet.
It was undoubtedly a shock. Even one of his closest allies told me a few minutes after his excoriating resignation letter landed that they had no idea this was coming. It was also vintage Johnson, as the former prime minister unleashed a full frontal attack on the protagonists he believed caused his demise – Prime Minister Rishi Sunak and the “kangaroo court” privileges committee who Mr Johnson insisted was always going to find him guilty regardless of the evidence.
As with his resignation from Number 10, there was not a scrap of contrition or regard for the democratic process that had got him to this place (remember there was a Commons vote to kick off the inquiry and there is also a Tory majority on that committee).
Instead there was fury, defiance and the threat of revenge laced through his remarks. He ended his statement saying he was “very sad to be leaving parliament – at least for now”.
Cue frenzied speculation about whether he might find another seat to come back in before the next general election. Whatever he does now, what is clear is that he’ll be hurling rocks from the sidelines at a prime minister he’s determined to destroy.
But surveying the scene of Mr Johnson’s bombshell the morning after, the timing of the detonation makes perfect sense.
We knew two things about the former prime minister: he was very focused on getting his resignation honours lists through, and he’d said himself at the privilege committee hearings that he wouldn’t accept the findings if members didn’t find in his favour.
Having received a copy of their report a few days ago, he’d clearly decided to quit rather than suffer the humiliation of being sanctioned and potentially suspended as an MP through a Commons vote. So when his honours list was secured and published, it was time for Mr Johnson to go.
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1:04
Tory MP pays tribute to Johnson
We don’t yet know the findings of the committee – due to meet on Monday to decide whether to now expedite the publication of its report – but we do know from Mr Johnson’s furious response that it’s likely MPs determined he had wilfully or recklessly misled the House, and were preparing to recommend a suspension of more than 10 sitting days from the Commons.
We currently only have Mr Johnson’s versions of events, as the former prime minister looked to set the narrative on a report that is almost certainly going to be very damning indeed. We know the privileges committee has received more evidence regarding Mr Johnson, since the initial partygate hearings earlier this year.
Last month, Boris Johnson was referred to police over further potential lockdown breaches by the Cabinet Office, which had been reviewing documents as part of the COVID inquiry. His ministerial diary revealed visits by family and friends to the prime ministerial country retreat Chequers during the pandemic. The information handed to the police was also handed to the privileges committee as part of its investigation. While Mr Johnson’s spokesperson immediately dismissed claims of breaches as a “politically motivated stitch-up”, another figure told me that the evidence is damning and has Mr Johnson “bang to rights”.
“There was an expectation that MPs would try to avoid the highest sanction, that they have gone there means it must be pretty bad,” says one Whitehall figure, who believes that the privileges committee has been unanimous in its verdict against him (we won’t know that for sure until the report is out).
The big question on my mind now is whether Mr Johnson will – or can – stage a comeback, and to what extent he’ll be able to disrupt his political nemesis Mr Sunak from outside the tent.
When it comes to the former question, the former prime minister has clearly decided not to box himself in and there is a big chunk of the activist base, as well as the parliamentary base, that are Mr Johnson backers.
But it’s equally true that this close to an election, Conservative MPs don’t want to stoke division – with a nod to the old adage that divided parties don’t win elections.
His most loyal backers on Friday night rode out on Twitter and TV screens to denounce the privileges committee, rather than amplify further Mr Johnson’s pointed criticisms about Mr Sunak and his government.
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Rayner: ‘Good riddance’ to Johnson
For its part, the Number 10 team were relieved when Mr Johnson failed to lead a huge rebellion and don’t believe he had anything near the potency he once had. “We’re in a period where Rishi is doing well restoring trust after a period of distress,” is how one figure close to the PM put it to me. “I don’t think the mood in the party is pitch forks.”
That’s not to say Number 10 isn’t worried by an unleashed and furious Mr Johnson determined to settle scores, but, as another person put it: “He is one man, the party is more than that and we sometimes lose sight of that in the Johnson circus.”
Image: Prime minister Sunak with President Biden
But the criticisms Mr Johnson has levelled at Mr Sunak – justified or not – are potent. There’s the criticism of Mr Sunak’s handling of Brexit and failure to get a UK-US free trade deal, to his call for lower taxes and bemoaning the lack of political momentum going into an election.
Those in government might remark in exasperation that the relationship between Mr Johnson and President Biden meant a free trade deal is something he’d never had been able to do, but that doesn’t matter much – what matters is that these dog whistles rally a base in the party frustrated by the new regime. He already has in the new grassroots Conservative Democratic Organisation, a movement which he could lead.
What he’ll do next, we don’t know. But the signs are that he intends, with his allies, to be a political menace. A third by-election was triggered on Saturday after another key Johnson backer Nigel Adams announced he too was quitting Westminster with immediate effect. That on top of the two by-elections caused by Mr Johnson and that of his closest political ally Nadine Dorries are the last thing his successor needs. Lose them, and it all feeds into the narrative that Mr Sunak is a busted flush.
There are obvious questions as to whether Mr Johnson will try to stand in Ms Dorries’ mid-Beds seat, where the Conservatives are defending a 24,000 majority, or return to another safe seat before the next election (there were plenty of rumours before all of this that Mr Johnson was on the look out for a safer seat than Uxbridge and South Ruislip).
He could equally return to writing a newspaper column or editorship. What’s clear from his resignation statement is that he still intends to hold the spotlight whether Mr Sunak likes it or not.
Image: Johnson swearing in ahead of hearing at Privileges Committee March, 2023.
Those around him tell me Mr Johnson shouldn’t be written off and feels deeply aggrieved by what he sees as a campaign within Number 10 and the cabinet office to defenestrate him, with briefings against him in the run-up to the publication of the privileges committee report and then vote in Commons. His camp believe fervently that Mr Sunak is trying to drive them from parliament and the party: they are defiant and this, if you like, is the beginning of a fight back. I’m told more resignations are likely.
For the current regime, Mr Johnson’s attack gives voice to those supporters angry that – in the words of one – Mr Sunak is unpicking the 2019 manifesto despite having neither a mandate from he public or party members. For many Conservatives, it is Mr Johnson who has the box office appeal and ability to connect with voters in a way that Mr Sunak does not. Those loyal to him are ready to rally – should he mount an attempt to return to parliament.
There are detractors who say Mr Johnson is done, that the partygate scandal has damaged his standing with the public and the party beyond repair.
A snap poll out today by YouGov found that nearly three in four Britons believe Mr Johnson committed further breaches of COVID rules than those he’s already been investigated and fined for.
In some ways, the easier thing for Mr Johnson to do was make this resignation the concluding chapter of his political life. But instead he’s chosen to leave the door open to a sequel.
A politician who above all hates to lose, the question is, after all that’s passed, whether he still has the appetite – and ability – to try once more to win. Never rule him out.
The court ruled to uphold the impeachment saying the conservative leader “violated his duty as commander-in-chief by mobilising troops” when he declared martial law.
The president was also said to have taken actions “beyond the powers provided in the constitution”.
Image: Demonstrators stayed overnight near the constitutional court. Pic: AP
Supporters and opponents of the president gathered in their thousands in central Seoul as they awaited the ruling.
The 64-year-old shocked MPs, the public and international allies in early December when he declared martial law, meaning all existing laws regarding civilians were suspended in place of military law.
Image: The court was under heavy police security guard ahead of the announcement. Pic: AP
After suddenly declaring martial law, Mr Yoon sent hundreds of soldiers and police officers to the National Assembly.
He has argued that he sought to maintain order, but some senior military and police officers sent there have told hearings and investigators that Mr Yoon ordered them to drag out politicians to prevent an assembly vote on his decree.
His presidential powers were suspended when the opposition-dominated assembly voted to impeach him on 14 December, accusing him of rebellion.
The unanimous verdict to uphold parliament’s impeachment and remove Mr Yoon from office required the support of at least six of the court’s eight justices.
South Korea must hold a national election within two months to find a new leader.
Lee Jae-myung, leader of the main liberal opposition Democratic Party, is the early favourite to become the country’s next president, according to surveys.
While the UK’s FTSE 100 closed down 1.55% and the continent’s STOXX Europe 600 index was down 2.67% as of 5.30pm, it was American traders who were hit the most.
All three of the US’s major markets opened to sharp losses on Thursday morning.
Image: The S&P 500 is set for its worst day of trading since the COVID-19 pandemic. File pic: AP
By 8.30pm UK time (3.30pm EST), The Dow Jones Industrial Average was down 3.7%, the S&P 500 opened with a drop of 4.4%, and the Nasdaq composite was down 5.6%.
Compared to their values when Donald Trump was inaugurated, the three markets were down around 5.6%, 8.7% and 14.4%, respectively, according to LSEG.
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Worst one-day losses since COVID
As Wall Street trading ended at 9pm in the UK, two indexes had suffered their worst one-day losses since the COVID-19 pandemic.
The S&P 500 fell 4.85%, the Nasdaq dropped 6%, and the Dow Jones fell 4%.
It marks Nasdaq’s biggest daily percentage drop since March 2020 at the start of COVID, and the largest drop for the Dow Jones since June 2020.
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5:07
The latest numbers on tariffs
‘Trust in President Trump’
White House press secretary Karoline Leavitt told CNN earlier in the day that Mr Trump was “doubling down on his proven economic formula from his first term”.
“To anyone on Wall Street this morning, I would say trust in President Trump,” she told the broadcaster, adding: “This is indeed a national emergency… and it’s about time we have a president who actually does something about it.”
Later, the US president told reporters as he left the White House that “I think it’s going very well,” adding: “The markets are going to boom, the stock is going to boom, the country is going to boom.”
He later said on Air Force One that the UK is “happy” with its tariff – the lowest possible levy of 10% – and added he would be open to negotiations if other countries “offer something phenomenal”.
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How is the world reacting to Trump’s tariffs?
Economist warns of ‘spiral of doom’
The turbulence in the markets from Mr Trump’s tariffs “just left everybody in shock”, Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions in Boston, told Reuters.
He added that the economy could go into recession as a result, saying that “a lot of the pain, will probably most acutely be felt in the US and that certainly would weigh on broader global growth as well”.
Meanwhile, chief investment officer at St James’s Place Justin Onuekwusi said that international retaliation is likely, even as “it’s clear countries will think about how to retaliate in a politically astute way”.
He warned: “Significant retaliation could lead to a tariff ‘spiral of doom’ that could be the growth shock that drags us into recession.”
It comes as the UK government published a long list of US products that could be subject to reciprocal tariffs – including golf clubs and golf balls.
Running to more than 400 pages, the list is part of a four-week-long consultation with British businesses and suggests whiskey, jeans, livestock, and chemical components.
Meanwhile, Prime Minister Sir Keir Starmer said on Thursday that the US president had launched a “new era” for global trade and that the UK will respond with “cool and calm heads”.
It also comes as Canadian Prime Minister Mark Carney announced a 25% tariff on all American-imported vehicles that are not compliant with the US-Mexico-Canada trade deal.
He added: “The 80-year period when the United States embraced the mantle of global economic leadership, when it forged alliances rooted in trust and mutual respect and championed the free and open exchange of goods and services, is over. This is a tragedy.”
Donald Trump has announced a 10% trade tariff on all imports from the UK – as he unleashed sweeping tariffs across the globe.
Speaking at a White House event entitled “Make America Wealthy Again”, the president held up a chart detailing the worst offenders – which also showed the new tariffs the US would be imposing.
“This is Liberation Day,” he told a cheering audience of supporters, while hitting out at foreign “cheaters”.
He claimed “trillions” of dollars from the “reciprocal” levies he was imposing on others’ trade barriers would provide relief for the US taxpayer and restore US jobs and factories.
Mr Trump said the US has been “looted, pillaged, raped, plundered” by other nations.
Image: Pic: AP
His first tariff announcement was a 25% duty on all car imports from midnight – 5am on Thursday, UK time.
Mr Trump confirmed the European Union would face a 20% reciprocal tariff on all other imports. China’s rate was set at 34%.
The UK’s rate of 10% was perhaps a shot across the bows over the country’s 20% VAT rate, though the president’s board suggested a 10% tariff imbalance between the two nations.
It was also confirmed that further US tariffs were planned on some individual sectors including semiconductors, pharmaceuticals and critical mineral imports.
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Trump’s tariffs explained
The ramping up of duties promises to be painful for the global economy. Tariffs on steel and aluminium are already in effect.
The UK government signalled there would be no immediate retaliation.
Business and Trade Secretary Jonathan Reynolds said: “We will always act in the best interests of UK businesses and consumers. That’s why, throughout the last few weeks, the government has been fully focused on negotiating an economic deal with the United States that strengthens our existing fair and balanced trading relationship.
“The US is our closest ally, so our approach is to remain calm and committed to doing this deal, which we hope will mitigate the impact of what has been announced today.
“We have a range of tools at our disposal and we will not hesitate to act. We will continue to engage with UK businesses including on their assessment of the impact of any further steps we take.
“Nobody wants a trade war and our intention remains to secure a deal. But nothing is off the table and the government will do everything necessary to defend the UK’s national interest.”
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0:43
Who showed up for Trump’s tariff address?
The EU has pledged to retaliate, which is a problem for Northern Ireland.
Should that scenario play out, the region faces the prospect of rising prices because all its imports are tied to EU rules under post-Brexit trading arrangements.
It means US goods shipped to Northern Ireland would be subject to the EU’s reprisals.
The impact of a trade war would be expected to be widely negative, with tit-for-tat tariffs risking job losses, a ramping up of prices and cooling of global trade.
Research for the Institute for Public Policy Research has suggested more than 25,000 direct jobs in the UK car manufacturing industry alone could be at risk from the tariffs on car exports to the US.
The Society of Motor Manufacturers and Traders (SMMT) had said the tariff costs could not be absorbed by manufacturers and may lead to a review of output.
The tariffs now on UK exports pose a big risk to growth and the so-called headroom Chancellor Rachel Reeves was forced to restore to the public finances at the spring statement, risking further spending cuts or tax rises ahead to meet her fiscal rules.
A member of the Office for Budget Responsibility (OBR), David Miles, told MPs on Tuesday that US tariffs at 20% or 25% maintained on the UK for five years would “knock out all the headroom the government currently has”.
But he added that a “very limited tariff war” that the UK stays out of could be “mildly positive”.
He said: “There’s a bit of trade that will get diverted to the UK, and some of the exports from China, for example, that would have gone to the US, they’ll be looking for a home for them in the rest of the world.
“And stuff would be available in the UK a bit cheaper than otherwise would have been. So there is one, not central scenario at all, which is very, very mildly potentially positive to the UK. All the other ones which involve the UK facing tariffs are negative, and they’re negative to very different extents.”