Independence Party's win underscores British political flux
IT is less than a month since the UK's domestic politics captured world headlines with the landmark Scottish referendum outcome. However, yet another (smaller) political earthquake rippled through the British electoral landscape on Friday with the news that the United Kingdom Independence Party (UKIP) has won its first seat in the House of Commons in Clacton, southern England.
UKIP, a party built around a policy of British withdrawal from the European Union, claims that the victory signals a "shift in the tectonic plates of British politics". And it could be replicated in another by-election in Rochester and Strood, also in southern England, in November.
To be sure, some dismiss UKIP's success on Friday as an electoral "flash in the pan". However, this ignores the party's earlier landmark success in May in winning the European Parliament vote in Britain, thus becoming the first party other than the Conservatives or Labour to win a …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access
China’s better economic growth hides reasons to worry
In AI-copyright battle, an existential crisis emerges
Europe shows diversifying from China’s economy is hard to do