Parliament Again Votes Down May’s Brexit Deal

13 March, 2019, 19:29 | Author: Carlos George
  • EU Refuses Brexit Negotiation With UK

As part of the plan, the government said there would be no tariffs on 87 per cent of imports by value, a "modest liberalization" compared with current trade rules.

Those Tory Brexiter MPs who WANT to believe the EU has no desire to trap the United Kingdom in the customs union via the Northern Ireland backstop will be reassured by the agreement between Theresa May and Jean-Claude Juncker on a new legal instrument saying the EU must negotiate in good faith to avoid the backstop coming into force at all or for long.

But, we are hearing Cox could alter his view.

After losing her first Brexit deal vote by the worst margin for a government bill in modern British history, the best that can be said for Theresa May's second attempt is that it at least performed marginally better.

North East Herts MP Sir Oliver Heald also voted for the Prime Minister's deal.

And there is the petard that will probably hoist the prime minister and her Brexit deal.

We suspect many MPs would be sceptical of any material shift in Cox's advice, believing political interference from Downing Street is behind the move. If the extension is rejected, then Britain is back to leaving the European Union without a deal on 29 March.

If the European Union did breach its commitments to try to find an alternative to the backstop, Lidington said Britain could use this legal document "as the basis for a formal dispute through independent arbitration", and ultimately get the backstop suspended.

Theresa May's Brexit plan has been voted down by British MPs for the second time.

British supermarket chains and fast food giants have warned of higher prices and empty shelves in the event of a no-deal Brexit.

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The gridlock that has seized the House of Commons has rattled European leaders.

A No 10 spokesman said she did not discuss resigning after her latest defeat because her government had recently won a confidence vote in the Commons. Lawmakers and the British public remain split between backers of a clean break from the European Union and those who favor continuing a close relationship through a post-Brexit trade deal or by reversing the June 2016 decision to leave.

Lawmakers voted by 391 to 242 against the deal, the second time they have defeated it.

Another positive driver behind Sterling is an apparent shift in the market's pricing of a General Election.

"The direction of travel in the next two and a half weeks has become clearer", says Oliver Harvey, a currency strategist with Deutsche Bank.

"They want an end to free movement, they want to have our own trade policy, they want to ensure laws are made in this country", said the PM. Therefore, reduced market expectations for an election could be playing positive for Sterling.

"With only 17 days left to 29th March, today's vote has significantly increased the likelihood of a "no-deal" Brexit ..." Post parliament vote, PM May assured that there will be another session to vote on No-deal exit followed by a session to vote on an extension of Article 50 tomorrow. Or risk No Deal, or no Brexit.

Britain will confront head-on the threat of a no-deal Brexit in a parliamentary vote with huge ramifications for Prime Minister Theresa May. Find out more here. "As stated by the President of the Republic, we can not accept under any circumstances an extension without an alternative, credible strategy from London".

The Withdrawal Agreement they have been tharshing out would set the terms of the UK's departure from the bloc it has belonged to for 40 years, and provided a transition period to begin at the end of this month through until December 2020 which would essentially be business as usual. We triggered article 50 without even the faintest semblance of a plan. They are likely to agree, as long as Britain leaves before elections to the European parliament in late May.

Many fear Brexit will divide the West as it grapples with both the unconventional U.S. presidency of Donald Trump and growing assertiveness from Russian Federation and China, leaving Britain economically weaker and with its security capabilities depleted. "Jobs and livelihoods depend on it", she said. The UBS analyst does however warn against complacency and urges a defensive approach to Sterling.

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