No Brexit more likely than no deal says May ahead of vote
The UK Prime Minister has warned that no Brexit is more likely than Britain bailing out of the bloc without a deal in the hope that MPs will support her deal in the House of Commons on Tuesday.
In a speech to factory workers that Theresa May will deliver Monday, she will warn that parliament is more likely to block Brexit from happening than allow the country to leave the EU without a deal in place.
She will also reiterate that if the referendum is not upheld it will leave the country deeply divided.
Her speech represents a last-ditch attempt to garner support for her Brexit deal in parliament on Tuesday, which she contends is the only and best option on the table for Britain’s departure from the EU.
Labour vows no confidence vote if May loses
If May’s speech is not able to convince MPs to support her, opposition leader Jeremy Corbyn has pledged to table a vote of no confidence in the government should her deal get voted down.
If the motion is accepted and a vote of no confidence receives sufficient support in the House of Commons it will trigger a general election.
‘We will table a motion of no confidence in the government at a time of our choosing, but it's going to be soon, don't worry about it,’ Corbyn said on BBC’s Andrew Marr show.
Taking control of Brexit
May’s speech comes at a time when there are media reports that many MPs are hoping to take control of Brexit in the event of her deal falling flat.
Around 100 Conservative MPs, alongside 10 Democratic Unionist Party members are looking to join forces with Labour and other opposition parties to vote down May’s Brexit deal on Tuesday.
‘As we have seen over the last few weeks, there are some in Westminster who would wish to delay or even stop Brexit and who will use every device available to them to do so,’ May will say on Monday.
‘I ask MPs to consider the consequences of their actions on the faith of the British people in our democracy.’
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. See full non-independent research disclaimer and quarterly summary.
See an opportunity to trade?
Go long or short on more than 16,000 markets with IG.
Spread bet and trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets
You might be interested in…
Find out what charges your trades could incur with our transparent fee structure.
Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.
Stay on top of upcoming market-moving events with our customisable economic calendar.