But its not that simple.
British Prime Minister Boris Johnson won the election against Jeremy Corbyn.
Corbyn wanted another referendumanother vote by the public on whether to stay in the European Union or leave.
(The original referendum took place in 2016).
This election was a general (everybody votes) and had a reportedlymassive turnout.
When are they leaving, then?
Johnsons victory is one for Brexit because he has beenso adamant about making it happen.
But leaving the E.U.
isnt automatic now that his role as prime minister is secure.
Parliament is supposed to vote on the terms of Brexit by the end of January.
With Johnson as prime minister, its almost a guarantee thats going to happen.
Once the legislation is approved, the U.K. wont officially be a part of the E.U.
anymore, but both parties will still have to negotiate the terms of Brexit, according toVox.
They have until December 31, 2020 to do that.
If they need more time, they have to announce that by the end of June.
Whats changing with the National Health Service?
Johnsonpreviously made big promisesof funding for additional staff and new hospitals, but had to walk those pledges back.
At the same time, his Conservative party has been nudging the health system toward privatization.
Labour also wants to keep the NHS a public service.
He did not comment on privatization concerns.
What does this mean for currency?
The British pound shot up as the victory neared, hitting its highest point since May 2018.
On the evening of December 11, one British pound could buy you $1.32.
On the evening of December 12, one pound was worth just over $1.35.
The pound still hasnt fully recovered since the Brexit referendum in 2016.
The New York Timesnoted that performance is likely to last a few weeks due to Brexit excitement.
But once the U.K. and the E.U.
get into Brexit trade discussions in 2020, the pound could weaken.
Does this mean anything for our economy?
Not yet, but keep an eye on this one.
