St Lucia’s prime minister believes that the upcoming in election in the United Kingdom will be a positive move for residents of St Lucia.
Allen Chastanet has already highlighted signs of an economic boost since the election was approved yesterday.
The UK’s prime minister, Theresa May, has called for Brits to head to the polls on 8 June, three years before elections were due.
May had previously ruled out an early election.
But following the country’s decision to leave the European Union she said division in Westminster – where she only has a slim working majority – will “risk our ability to make a success of Brexit”.
According to Chastanet, getting rid of speculation surrounding a possible election is a move towards stability, and that the pound had already strengthened against the US dollar.
He said: “For St. Lucia to be competitive in the UK market we need to see a pound of around 1.50 to 1.60 [dollars].
“That would drive not only arrivals into St. Lucia, but also in terms of driving our real estate market.”