Economy

Four Brexit options chosen for indicative votes

Four Brexit options chosen for indicative votes

The British Pound performed unexpectedly well during the first quarter of 2019 despite the chronic uncertainty, growing confusion and chaos revolving around Brexit.

Members of Parliament will have another chance Wednesday to take over the Brexit agenda and have a say on what happens next.

"We are now in a really unsafe situation with a serious and growing risk of no-deal in 10 days" time, ' said opposition Labour lawmaker, Yvette Cooper, who has proposed the legislation alongside eleven others from several political parties, including members of May's Conservatives.

"This debate, this division, can not drag on much longer", May said in a televised statement from 10 Downing St. after an all-day Cabinet meeting. "A decision in national interest, at cost to her, which I hope colleagues accept".

Yvette Cooper is behind a bill which could prevent no-deal.

Theresa May will meet her top team of ministers later to try work out what to do.

Last week, there were eight options presented to members of Parliament to vote on but none secured a majority.

The premier has tried cross-party talks before; they broke up without success. This will focus on the future relationship.

European Union leaders are meeting at an emergency summit on April 10 and appear divided over whether they should offer May any more help.

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MPs met in the House of Commons for a whole day of debate and voting on Brexit - but weren't able to agree a way forward.

European Union chief negotiator Michel Barnier said a no-deal Brexit was becoming "day after day more likely".

May has signaled she wants a further extension, but it's now nearly certain Parliament will have the legislation to force her to seek one after Wednesday night's 313-312 vote on a bill put forward by rank-and-file lawmakers seeking to avert a no-deal Brexit.

In the past two weeks, rank-and-file politicians have taken control over the Parliamentary agenda in an attempt to solve the crisis themselves.

"I don't think it's the silver bullet some people think it is", Mr Wilson said of indicative votes.

The narrowest defeat - 276 votes to 273 - was for a plan to keep Britain in a customs union with the EU, guaranteeing smooth and tariff-free trade in goods.

Finance minister Philip Hammond said it was an "expectation" that Brussels would offer a longer extension at the April 10 summit than the short one Britain is targeting, but London would want to curtail it as quickly as possible after passing a Brexit deal. It allows continued participation in the single market and a "comprehensive customs arrangement" with the European Union after Brexit - including a "UK say" on future European Union trade deals - would remain in place until the agreement of a wider trade deal which guarantees frictionless movement of goods and an open border in Ireland.

"We are disappointed that MPs have chosen to back this bill", a government spokesman said.

"Far better now to request a long extension from the EU, to fight the European elections - to make that possible - by all means, then, to allow the Commons to come up with what a compromise might look like but then ask the people across the United Kingdom whether they want to accept a second-best compromise or whether, actually now, given everything we've learned over the past three years, they might think the best option now for the whole of the United Kingdom is to remain in the EU".


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