Fraser Nelson 8 March 2019 11:50 AM 8 March 2019 11:50 AM Share Twitter Facebook LinkedIn Email Whatsapp Philip Hammond’s whole career as Chancellor has been leading up to this moment. Next week, in his Spring Statement, he’ll say that MPs have a choice: back the EU’s deal, or go for a no-deal Brexit for which government has failed to prepare. Without any serious leadership for the latter, it’s unlikely to pass. The Prime Minister is snookered. He has won. He was against Brexit and has not quite stopped fighting those who advocated it – on the radio yesterday he distinguished himself from “the Brexit wing of the party.” But he has second best: a Brexit deal which is EU membership in all but name. Perhaps to be followed by a proper Brexit, perhaps not. And why is Theresa May unable to negotiate anything better? Because no one can negotiate anything without the threat of walking away. Why is she unable to threaten … [Read more...] about How Philip Hammond snookered Theresa May on Brexit
Theresa may on brexit
LABOUR leader Jeremy Corbyn has written a letter to Prime Minister Theresa May about Brexit. We explain what Corbyn’s Brexit terms are and if Labour will back May. What did Jeremy Corbyn say in his letter to Theresa May? Corbyn sent the PM a letter on February 6 outlining exactly how the Labour Party will support May. The Labour leader made it clear that her modifications to the Northern Irish backstop are not enough to win his party’s support. He told her that if she makes these five legally-binding commitments that Labour will support her. The commitments are: A customs union that would include a say in future trade deals Being closely aligned with the single market Having UK standards on rights and protections similar to the EU Clear commitments on the UK’s future participation in EU agencies and funding programmes Cemented agreements on future security agreements with the UK Will Labour support Theresa May if she agrees to these terms? It is unclear. Corbyn has … [Read more...] about Will Labour back Theresa May on Brexit and what are Corbyn’s terms?
LONDON — British MPs rejected Prime Minister Theresa May's Brexit deal by a record-breaking 230 votes, shrouding the U.K.'s path out of the European Union with doubt. The vote in the House of Commons — 432 against and 202 for — means that the Withdrawal Agreement struck between May's government and the EU in November last year has fallen at the first hurdle. With the U.K. legally required to leave the EU on March 29, May now has no choice but to return to Brussels seeking further talks on an agreement that she calls the "only deal” that can deliver on the June 2016 referendum result while also avoiding an economically damaging no-deal break from the EU. With protesters massed outside the Houses of Parliament — most pro-EU, but many pro-Brexit — May said ahead of the vote that MPs were making “a decision that will define our country for decades to come.” It is possible that she could bring her deal to a vote again in the coming days, … [Read more...] about Historic defeat for Theresa May on Brexit vote
Anyone hoping that financial markets will ride to the rescue of Theresa May’s Brexit deal is likely to be disappointed, warn investors.This theory has been gaining traction among some Conservative MPs of late, based on the assumption that sterling will collapse in value if the UK prime minister’s withdrawal agreement with the EU is voted down by parliament at the first time of asking — a credible prospect given the opposition from all sides.Severe market turbulence will then encourage MPs to take another, more positive, look at the agreement, and push it through in a second vote, or so the theory goes, in an echo of how US lawmakers passed the troubled asset relief programme to rescue the country’s financial system from meltdown during the 2008 banking crisis.It is a neat idea. But both investors and politicians said it would not get off the ground.“I don’t think the first fail [in parliament will have] any impact [on the markets],” said one … [Read more...] about Investors say markets unlikely to help Theresa May on Brexit
The British government has agreed to go ahead with a draft withdrawal agreement on Brexit, Prime Minister Theresa May has announced. May on Wednesday night announced the decision after the cabinet members discussed the proposed deal to leave the European Union for nearly five hours. "The collective decision of the government was that the cabinet should agree to the draft agreement and the outlying political delclaration," May said in front of 10, Downing Street. "This is a decisive step, which allows us to move on and finalise the deal in the days ahead," she added. "These decisions were not taken lightly, but I firmly believe they were in the national interest." Earlier on Wednesday, May said the draft deal with regards to Brexit will adhere to what people voted for during the 2016 Brexit referendum. "What we have been negotiating is a deal that does deliver on the vote of the British people," May told MPs after the UK and EU finalised the details of their plan on … [Read more...] about UK ministers back Theresa May on Brexit deal