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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

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.

Theresa may on Brexit delay Source: Bloomberg

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.

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