Prime minister Theresa May speaking from the House of Commons Tuesday lunch time, has promised MPs on they can vote on extending Brexit negotiations or exit the EU without a deal if her plan is rejected next month.
May confirmed to the Commons she will put forward her withdrawal agreement, to include any other additional assurances secured from Brussels, to bring a “meaningful vote.”
Is May’s deal collapses then MPs can vote the following day, one vote will be for a no-deal Brexit and the second vote will be to request an extension to Article 50.
With huge uproar in the Commons May said to MPs, “They are commitments I am making as Prime Minister and I will stick by them, as I have previous commitments to make statements and table amendable motions by specific dates.”
The CBI has responded to Theresa May’s statement in the House of Commons.
Carolyn Fairbairn, CBI director general said, “Moves to avert no deal in March are essential. There are now proposals from Parliament and Government. But they are just one step.
“To avoid a hammer blow to firms and livelihoods, delay cannot simply be an extension of stalemate. Compromise is the only way.”
Simon Harvey, FX market analyst at Monex Europe said, “May tries to maintain control of the Brexit process and face down the Cooper amendment, but threats of no-deal bursts sterling’s bubble.
“After cracking a fresh 2019 high against the US dollar and an 18-month high against the euro this morning, sterling began to pare gains after Theresa May stated that an extension in Article 50 would not take no-deal off of the table.
“Much of the pound’s gains this morning were due to a culmination of the deteriorating chances of a no-deal Brexit and the increased probability of a softer future framework. However, these assumptions proved just conjecture, and sterling’s bubble was quickly burst in May’s mid-day statement.
“Future commitments by May should the second meaningful vote fail, which include a vote on leaving the EU without a deal and a vote on a short Article 50 extension, looks like further can kicking by the resilient Prime Minister to hold onto the Brexit process.
“The promises are merely trying to erode the popularity of the Cooper amendment in order to maintain control of the next steps should her deal fail to be ratified. Any further rally by the pound is therefore dependent on whether Cooper’s amendment passes. This will tie May’s hands in Parliament and forcefully take no-deal off the table.”
Mike Cherry, the national chairman for the Federation of Small Business (FSB) said, we one step back from the no deal cliff on 29 March.
Responding to today’s Commons Statement from the prime minister Cherry said, “Today, we have seen real movement towards ruling out a chaotic and damaging no deal on 29 March.
“If the Prime Minister can stay true to her word, a no deal Brexit on 29 March will only happen if Parliament chooses it. If MPs are presented with this choice, I ask them to recognise the damage a no deal Brexit on 29 March would cause the UK small business community.
“For many, it is already too late to prepare for this. Half of small firms that said they would be impacted by a no deal Brexit, told us they needed at least two months to prepare. A further third won’t be in a position to be ready whatever happens.
“Outside the Westminster bubble, our small firms want an end to the Brexit stalemate. Small businesses are trying to get on with the jobs, they now need all politicians to come together and do the same.”
