Published: Fri, January 18, 2019
Business | By Pearl Harrison

British PM Theresa May Says Impossible To Rule Out No-Deal Brexit

British PM Theresa May Says Impossible To Rule Out No-Deal Brexit

The British parliament rejected on Tuesday the UK's exit agreement negotiated by the government of Prime Minister Theresa May with Brussels by a 432-202 vote.

It comes after Defence Secretary Gavin Williamson told MPs last month that 3,500 soldiers and reservists will be "held at readiness" to help in the event of a no-deal Brexit.

Ministers ordered civil servants to compile the paper for talks Theresa May is holding with opposition MPs who back the idea, after her bid to get her draft European Union exit deal through the Commons failed this week.

House of Commons speaker Andrea Leadsom confirmed the date this morning, saying MPs will debate the new plan as May sets out her next steps towards Brexit.

Perhaps unsurprisingly given the current political situation in London, a spokesperson for May announced on Thursday evening that the prime minister would not be attending next week's WEF meeting in the Swiss mountain town of Davos.

The official People's Vote campaign also revealed it raised more than £100,000 in the 20 hours following May's Brexit deal defeat on Wednesday.

From Channel Tunnel operator Eurotunnel to Scottish whisky distillers, firms called for urgent and decisive government action and warned of the consequences of a "no-deal" Brexit.

Without any deal, trade with the European Union would default to basic World Trade Organization rules - a worrying prospect for manufacturers dependent on smooth, uncomplicated supply lines.

"I urge colleagues to respect that condition and refrain from engagement with the government until "no deal" is taken off the table". There is absolutely no parliamentary support for this.

In short, the prime minister has no good options - only bad and worse.

"The prime minister has offered to open talks with opposition parties, however, I have been absolutely clear that any starting point for talks about breaking the Brexit deadlock must be on the provision that the threat of a disastrous "no deal" outcome is ruled out", he said. There is little sympathy for Britain's predicament.

The company that operates the Eurotunnel says a quarter of all U.K. -EU trade passes through the tunnel, which could be a major chokepoint in a no-deal Brexit. It also does not want to be perceived as punishing the United Kingdom for leaving.

Legislators ripped up May's Brexit blueprint Tuesday by rejecting the divorce agreement she has negotiated with the European Union over the past two years.

How could a second Brexit referendum work? If we don't get agreement, the law says we leave on March 29.

But more than a third of the Conservatives and all 10 DUP members of parliament voted against her Brexit arrangements on Tuesday - each for their own reason.

"This was illustrative only and our position is that there will be no second referendum, as the PM has repeatedly said".

May has flatly rejected a second vote.

There are several factors to consider: First, May, whose administration drives the legislative agenda, opposes a second referendum. Others suggest a general election should be called.

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