Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

DUP won’t back May’s Brexit deal

The unlikely alliance between the Conservative party and Northern Ireland’s Democratic Unionist Party is showing signs of strain after DUP leader refuses to back May’s Brexit deal.

Conservative leader Theresa May and DUP leader Arlene Foster
Source: Bloomberg

The Democratic Union Party (DUP) has made it clear that it will not back the Theresa May’s Brexit deal, with the Northern Irish party saying that it will vote against the draft agreement in the house of commons next month.

To make matters worse, the DUP has also that it will not support the government’s finance bill sending a clear signal to May that she can no longer expect support from the party and calling into question an alliance that is growing increasingly tenuous.

The Northern Irish party’s refusal to support the government comes after its senior members, including leader Arlene Foster, expressed their anger of May’s EU withdrawal agreement – especially with regards to its proposal for an Irish border backstop.

A shaky alliance

The Conservative party relies on the DUP’s 10 MPs to support it in the House of Commons where it does not control a majority in the wake of the June 2017 general election that saw the Tories lose ground to the Labour party.

In exchange for the DUP’s loyalty the Conservative government agreed to allocate around £1 billion in financing for Northern Ireland.

But the unlikeliest of political alliances is starting to show signs of strain at a time when May can least afford it, with the prime minister facing a coup from backbench MPs that could see the Tory leader face a vote of no confidence.

In an interview on BBC’s Newsnight on Monday DUP MP Sammy Wilson said: ‘Tonight we took the view that since the government had broken one of the fundamental agreements that they have with us, namely, that they would deliver Brexit for the people of the United Kingdom as a whole and, secondly, would not separate Northern Ireland constitutionally or economically from the United Kingdom, that we had to do something to show our displeasure.’

‘The abstentions were designed to send a political message to the government… we have an agreement with you but you have to keep your side of the bargain, otherwise we don’t feel obliged to keep ours,’ he added.

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.

Find articles by writer