Pound Hits Session Low As May Queues Up Third Vote On Brexit Plan
Is this it? Are we finally almost done here?
Intransigent Brexiteers have managed to convince Jacob Rees-Mogg and Boris Johnson to walk back their support for May’s withdrawal agreement, and the DUP – the 10 Irish Unionist MPs who shore up the Tories majority in Parliament – has declared that it will once again oppose the deal, and insists that it has broken off talks with the government (though May’s side insists negotiations are ongoing). Yet, May has apparently managed to find a way to meet Speaker John Bercow’s “substantially different” test and is now hoping to bring her wildly unpopular withdrawal agreement back for a third meaningful vote on Friday.
To satisfy Bercow’s ruling, May has separated the withdrawal agreement from a nonbinding political declaration setting out the terms for the next stage of negotiations.
The pound slid to its LoD on reports that the government was laying down a motion to call for a Friday evening vote, erasing all of its gains from earlier in the week.
If the deal fails, May’s government has intimated that MPs will risk a longer delay of Brexit or possibly parliamentary elections which could hand control of the Commons to Labour. Of course, a longer delay would be contingent on the EU’s approval, so it’s probably equally likely that the UK would leave without a deal on April 12.