Brexit: Theresa May urges parliament to back her on Brexit
UK prime minister Theresa May has appealed to British lawmakers to back her on Brexit, after the European Union said it could only allow a delayed Brexit for three months.
This comes after May asked the EU to extend Brexit from March 29 to June 30, however her request has not been granted just yet. It will be discussed between leaders of 27-member states at a summit in the UK on Thursday.
The European council president Donald Tusk has said, a short delay could be possible if Parliament backs May’s divorce agreement next week, despite Parliament previously voting the agreement down twice.
‘I believe that a short extension will be possible, but it will be conditional on a positive vote on the Withdrawal Agreement in the House of Commons,’ Tusk told journalists.
May says ‘I am on your side’
May appealed to lawmakers in a televised address on Wednesday, where she said that British lawmakers had spent long enough saying what they did not want from Brexit, and that people were tired of their infighting.
‘I passionately hope MPs (lawmakers) will find a way to back the deal I have negotiated with the EU,’ May said.
May also said that lawmakers had a choice to either leave the EU with a deal, leave without a deal, or not leave at all. She urged for a quick decision.
‘I am on your side’ May said.
May accused of blackmail by Labour Party
May has previously told Parliament that she could not face the prospect of a long Brexit delay
‘As prime minister, I am not prepared to delay Brexit any further than the 30th of June,’ she said.
However, May did not say when the next vote on her deal would happen.
Foreign Minister Jean-Yves Le Drian said May would need to make her case before EU leaders.
‘Our position is to send the British a clear and simple message. As Theresa May has repeatedly said herself, there are only two options to get out of the EU: ratify the Withdrawal Agreement or exit without a deal,’ he told the French parliament.
May’s announcement asking for a three-month delay has caused uproar in the chamber, with the opposition Labour Party accuing May of "blackmail, bullying and bribery" in her attempts to force her deal through.
However, uncertainty remains as May’s Brexit extension request has presented an ultimatum for Labour party MPs to choose between a deal or no deal.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Trading around Brexit
Find out how the UK’s exit from the EU continues to affect traders, and discover:
- The unique opportunities in a ‘hard’ and ‘soft’ Brexit
- The markets you should be watching
- Everything that’s happened so far
Live prices on most popular markets