18/02/2019 - May Loses Brexit Vote Again

GBP

Theresa May plans to speak to every European Union leader and the European Commission chief to seek changes to her EU withdrawal agreement, days after another defeat from her own lawmakers and as businesses brace for a no-deal Brexit on March 29.

In a letter to her divided Conservative lawmakers, May asked them to put aside “personal preferences” and unite in the interests of the country by backing a deal.

Culture Secretary Jeremy Wright said on Sunday that changes needed to be made to the backstop, and that did not necessarily mean the agreement needed to be reopened.

On Monday, Brexit Secretary Steve Barclay will meet EU chief negotiator Michel Barnier, and on Tuesday, Attorney General Geoffrey Cox, will make a speech setting out what changes would be required to eliminate the legal risk that Britain could be trapped in a Northern Irish backstop indefinitely.

Unless May can get a Brexit deal approved by the British parliament, she will have to decide whether to delay Brexit or thrust the world’s fifth-largest economy into chaos by leaving without a deal at the end of March.

Key Announcements

None