May to Finalise Departure Timetable

GBP

Theresa May will set out a timetable for her departure in early June after she attempts to get her Brexit deal approved by Parliament. May has promised to step down after her Brexit deal is approved by lawmakers but has come under increasing pressure from many in her party to set out clearly when she will step down regardless of whether she can get her deal through Parliament or not.

1922 Committee chair Graham Brady speaking on Thursday went onto say “the Prime Minister is determined to secure our departure from the European Union and is devoting her efforts to securing the second reading of the Withdrawal Agreement Bill in the week commencing 3rd June 2019 and the passage of that Bill and the consequent departure of the United Kingdom from the European Union by the summer." A second reading of the bill will take place once May’s deal has been voted on and Brady claimed talks with May have brought ‘greater clarity’ to May’s intentions. May survived a no confidence vote in December and under current rules she cannot be challenged again for a year but Brady is now pushing for those rules to be changed in order to try and force her out earlier.

Sterling continued to decline on Thursday with the uncertainty of a No-Deal Brexit starting to become a reality as cross-party talks have stalled between May and Corbyn in recent weeks. Talks between May and Corbyn had angered many conservative MPs which were not happy with May’s actions. An exit for May as Primer Minster is looking increasingly likely and a leadership election is likely to take place with many senior conservatives looking to run for Prime Minister.

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