Iain Murray, vice president of strategy at the Competitive Enterprise Institute, discussed the aftermath of Brexit, its impact on global markets, and British politics on this episode of The Federalist Radio Hour.

Despite what many commenters warned would happen to British economy, there has been a surge of confidence in the markets. “All the indicators of a solid economy are there and as a result, the proposed recession has not occurred,” Murray said. “Britain is now confidently going forward.”

At one point, it looked like both the major political parties were going to be in chaos following Brexit, Murray said. “In the end, [Theresa May] was actually the ideal candidate to take the reigns. The leadership election fizzled out as every other candidate withdrew and Theresa May was appointed Prime Minister very quickly,” he said.

Later in the hour, Murray and Domenech talked labor regulations and independent contractors.