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Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

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Inside the 'stealth wealth' playbook: How Silicon Valley's elite buy multimillion-dollar mansions without leaving a paper trail
Boris Johnson

Boris Johnson Named U.K. Prime Minister

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The Associated Press
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The Associated Press
The Associated Press
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July 23, 2019, 7:17 AM ET
Boris Johnson, leader of the Conservative Party, reacts to the announcement of winner of the Conservative Party leadership contest at the Queen Elizabeth II Conference Centre in London, U.K., on Tuesday, July 23, 2019.
Boris Johnson, leader of the Conservative Party, reacts to the announcement of winner of the Conservative Party leadership contest at the Queen Elizabeth II Conference Centre in London, U.K., on Tuesday, July 23, 2019. Johnson, the public face of the Brexit campaign, won the contest to succeed Theresa May as British prime minister, taking over a country in crisis and a government on the brink of breaking apart. Photographer: Simon Dawson/Bloomberg via Getty ImagesSimon Dawson—Bloomberg via Getty Images

Brexit hardliner Boris Johnson won the contest to lead Britain’s governing Conservative Party on Tuesday and will become the country’s next prime minister, tasked with fulfilling his promise to lead the U.K. out of the European Union “come what may.”

He defeated his rival Jeremy Hunt overwhelmingly in a vote of Conservative Party members.

He will be installed as prime minister in a formal handover from Theresa May on Wednesday.

The victory is a triumph for 55-year-old Johnson, an ambitious but erratic politician whose political career has veered between periods in high office and spells on the sidelines.

Johnson has vowed that Britain will quit the European Union on the scheduled date of Oct. 31 even if it means leaving without a divorce deal.

But he faces a rocky ride from a Parliament determined to prevent him from taking the U.K. out of the 28-nation bloc without a withdrawal agreement.

Several Conservative ministers have already announced they will resign to fight any push for a “no-deal” Brexit, an outcome economists warn would disrupt trade and plunge the U.K. into recession. Fears that Britain is inching closer to a “no-deal” Brexit weighed on the pound once again Tuesday. Before the announcement, the currency was down another 0.3 percent at $1.2441 and near two-year lows.

May stepped down after Britain’s Parliament repeatedly rejected the withdrawal agreement she struck with the 28-nation bloc. Johnson insists he can get the EU to renegotiate — something the bloc insists it will not do.

If not, he says Britain must leave the EU on Halloween, “do or die.”

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