Sterling tumbles after United Kingdom parliament vote on trade bill

Sterling tumbles after United Kingdom parliament vote on trade bill

Sterling tumbles after United Kingdom parliament vote on trade bill

As Theresa May's government continues to reel over its divisive plan to withdraw the United Kingdom from the European Union, the Prime Minister has rejected the idea of a second vote that would give the British people another say before the country officially hits the exits in March 2019.

The Conservative government defeated on Tuesday an amendment introduced by its own backbench MPs to a future trade policy bill which would have kept Britain in a customs union with the EU if it fails to agree a free trade deal.

If Mrs May loses the vote, the government will be forced to ensure Britain remains in a customs union with the EU if no agreement on trade is reached by January 2019.

Twelve Tory "remainer" MPs rebelled against the party whip and backed the amendment while four Labour Brexit-supporting MPs rebelled against their party whip and backed the government.

This article has been adapted from its original source.

He said he was still undecided whether he would vote in favour of the Government's deal when it went before the House in its final form.

Telford MP Lucy Allan, also a Brexit supporter, said she was pleased to see the Customs Bill pass through Parliament.

On Monday, May gave in to Tory hardliners by accepting four amendments to the bill, underpinned by her Brexit white paper, meant to toughen up her negotiating stance.

May's plan has drawn criticism from members of her party as well as pro-Brexit members.

She told HuffPost UK: "Over my 29 years in Parliament, I have been censured many times by the CLP".

The Commons voted by 307 to 301 against the amendment from pro-EU Tory rebels that would have wrecked the Prime Minister's Brexit strategy and plunged the government into chaos.

If a Brexit deal is blocked in Parliament, May's options would be limited, since she does not want Britain to leave the European Union without a deal, with all of the economic damage that would entail.

Umunna said the four had helped May avoid a humiliating reverse over the customs union vote.

"We can't rely on anything", said Warren East, CEO of United Kingdom engine maker Rolls Royce, who said his firm could start stockpiling parts soon if it looked like Britain was heading toward a disorderly exit from the EU.

But Mrs May suffered a setback when another rebel amendment, seeking to keep the United Kingdom in the European Medicines Agency, was passed by the Commons.

Mrs May inched through with the support of three Labour MPs, Frank Field, Kate Hoey and Graham Stringer, on both.

Boris Johnson, who has laid low since he left the Cabinet, could break his silence at that point by delivering a resignation speech while Mrs May is still in the chamber.

"Today, this morning, there would have been a confidence vote in the Government following that confidence vote I think it says in Erskine May 14 days following that, if the Government loses two votes, that would have been the second vote, there would then have to be a general election vote. Margin is closing on these votes & we will keep at it", tweeted Keir Starmer, Brexit spokesman for the opposition Labour Party.

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