Labour backs plan to extend Article 50 deadline and delay Brexit

The Labour party is backing an amendment proposed by senior backbench MP Yvette Cooper that will delay Brexit to prevent the chaos of a no-deal.

Labour Party and Union Jack Flag Source: Bloomberg

Labour MPs are backing a plan that will delay Brexit beyond the initial March 29 deadline in a bid to prevent Britain from bailing out of the bloc without a deal that many economists expect would be chaotic for the country’s economy.

The Labour party is getting behind an amendment proposed by senior backbench MP Yvette Cooper that, if successful, will extend Article 50 and see the UK remain a member of the EU until 2019 in the hope that a new Brexit deal can be agreed.

Article 50 extension plan garners cross-party support

Cooper’s planned amendment has already secured significant support across the aisle, with senior Conservative MPs, including Nick Boles backing the motion that will stop Britain leaving the EU without a deal on March 29.

The British Prime Minister Theresa May was quick to issue her response to the plan, which she said would not rule out a no-deal scenario from happening, but merely delay Britain’s departure from the bloc.

May also warned Labour lawmakers that they should tread carefully and be mindful of the constitutional dangers of attempting to ‘usurp’ the government.

'The EU are very unlikely to agree to extend Article 50 without a credible plan for how we are going to approve a deal,' May said speaking in the House of Commons on Tuesday.

Labour leadership yet to endorse Article 50 extension plan

Despite the backbench MP garnering significant support for her plan, Labour’s leadership have been less than forthcoming in backing the amendment, with many shadow cabinet ministers worried about upsetting pro-Brexit voters in key constituencies.

But on Tuesday, Corbyn announced that delaying Brexit has become ‘inevitable’.

‘Whatever happens in the votes that follow it has now become inevitable that the government will have to extend Article 50 in any scenario,’ Corbyn said in the House of Commons on Tuesday.

Trading around Brexit

Find out how the UK’s exit from the EU continues to affect traders, and discover:

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