Brexit: MPs continue European Union withdrawal deal debate

Brexit: MPs continue European Union withdrawal deal debate

Brexit: MPs continue European Union withdrawal deal debate

While the news has not boosted Sterling it does suggest a big move higher could ultimately materialise.

"I can not in good conscience vote for the Prime Minister's deal, which in my mind represents the failure of her Governments approach to the negotiations". It must be stressed that gains in GBP/USD are more a function of Dollar weakness than Sterling strength.

"So members across the House should vote with us to break the deadlock". The scale of the defeat suffered by the deal in the first vote is key: if the scale of the defeat is marginal then markets could bid Sterling higher on the assumption it will cross the line in the event of some fresh concessions being offered by the EU.

In a shift of tone, apparently aimed at winning over Brexiteers who are determined to vote Mrs May's deal down, Mr Hunt warned that defeat for the government on Tuesday would not lead to them getting the kind of Brexit they wanted.

Mr Grieve had tabled the amendment Tuesday night after pro-EU MPs had passed an amendment to the Finance Bill created to prohibit spending on No Deal preparations without authorisation from Parliament - which is dominated by Remainers and largely opposed to No Deal.

Parliament can establish that it wants a no-deal Brexit to be ruled out. However, this assumption assumes the government won't be able to win over either of the Brexiteer or Remainer cabals in parliament.

The government also offered a concession to the Democratic Unionist Party, saying Northern Ireland would have "a strong role" in any decision between triggering the backstop or extending a transition period if a future relationship with the European Union is not in place by December 2020.

Speaking to MPs earlier, May said: "The only way to avoid no deal is to vote for the deal".

As May herself said a few weeks ago, rejection of her deal will plunge Britain into uncharted waters.

Mr Corbyn had earlier suggested that Brexit could be delayed if Labour won a general election, to allow him more time to go back to Brussels and renegotiate the Withdrawal Agreement.

"If we were, as a political class, not to deliver Brexit that would be a fundamental breach of trust between the people and the politicians and I think that would be something that we would regret for many, many generations", Hunt told BBC Radio 4's Today programme.

The Daily Mirror says Mrs May has "caved in" on workers' rights to save her deal.

Pro-EU Conservative lawmaker Dominic Grieve, who proposed the measure, said it was meant to speed up decisions, to help avoid a no-deal Brexit and "the calamitous consequences that would follow on from it".

But Bercow, who won equally noisy support from Labour MPs and some remain-minded Conservatives, insisted that he could make the decision and that he would side with the interests of parliament over the executive. Elliot cautions this view has been rejected by other senior party figures.

The amendment to the business motion for the plan, drawn up by the Conservative former attorney general Dominic Grieve, gives May the deadline to put forward new plans if she loses the vote, as many expect, next Tuesday.

But there are, as I say, considerable risks to this strategy.

Shadow Brexit Secretary Keir Starmer has warned Theresa May's Tory government that the United Kingdom will not leave the European Union on March 29, accusing them of "pushing parliament away", during the first day of debate on the PM's deal.

As such, Sterling "looks pretty cheap" says Patel.

After concerns were raised by Japan's prime minister and the CBI, British Cabinet minister Amber Rudd underlined the damaging impact of leaving the European Union in March without a new trade agreement in place, and hinted she could even quit over the issue.

On such an outcome, Rochester fancies the British Pound's chances against the Euro in particular.

"I think we shouldn't forget that in the kind of unprecedented situation that we're in things are changing very, very fast", he said.

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