Labour has tabled a cross-party motion to try and stop a no-deal Brexit by taking control of Parliamentary business later this month. The party plans to force a vote on Wednesday, which would give MPs control of the timetable on 25 June. Labour says if the motion passes, MPs will be able to introduce legislation to avoid a no-deal scenario at the end of October. Labour's Brexit spokesman Sir Keir Starmer said MPs "cannot be bystanders" while the next prime minister "tries to crash the UK out of the European Union without a deal and without the consent of the British people". Furthermore, Mr Starmer went onto say "my challenge to MPs who disagree either with a no deal Brexit or proroguing Parliament is to back this motion and act in the national interest.". The motion has cross-party backing, including support from a few Tory MPs and also the motion has been signed by Jeremy Corbyn, SNP Westminster leader Ian Blackford, Lib Dem leader Vince Cable and former green party leader Caroline Lucas.
Furthermore, the EU has underlined that it will not reopen Britain’s EU withdrawal deal, stressing that the next Prime Minister should honour the deal that Theresa May agreed with the bloc. European Commission president Jean-Claude Junker speaking on Tuesday said that the UK’s 585-page exit treaty “is not a treaty between Theresa May and Juncker, it is a treaty between the UK and the EU, it has to be respected by whoever is the next British prime minister.” Junker went onto say ‘there will be no renegotiations as far as the content of the withdrawal agreement is concerned’. The remarks of Junker has put cold water over claims made by Boris Johnson and other conservative leadership candidates that they could negotiate a better deal, especially when it comes to revisiting the backstop arrangements for preventing a hard border in Ireland. Lastly, Junker went onto say Brussels remained ready to discuss the details of the non-binding political declaration on future UK-EU relations that accompanies the withdrawal treaty text. He made it clear that the EU will be willing to work with the new Prime Minister but emphasised that the withdrawal agreement will not be renegotiated.
09:15 – EUR: ECB President Draghi Speaks
13:30 – USD: CPI m/m – forecast at 0.1% from previous 0.3%s
13:30 – USD: Core CPI m/m – forecast at 0.2% from previous 0.1%