May offers MPs new Brexit deal to break deadlock
The British Prime Minister will lay out a ‘new deal’ for Brexit on Tuesday in a desperate attempt to break the deadlock in parliament over the UK’s future relationship with the EU.
Theresa May will lay out a new deal for Britain for its departure from the EU on Tuesday in what constitutes her fourth attempt to break the Brexit deadlock in the House of Commons.
The British Prime Minister is hoping that a new Brexit deal will garner enough support from MPs to finally get Brexit over the line and allow her to leave her post having achieved what she promised to the electorate nearly three years ago.
Theresa May unlikely to succeed with new Brexit deal
Despite her best efforts, May’s latest attempt to break the Brexit deadlock is unlikely to succeed even though a spokesman from Downing Street said that the new deal will include ‘certain significant new aspects’, with many MPs unlikely to be swayed by such statements.
‘The prime minister said that the Withdrawal Agreement Bill is the vehicle which gets the United Kingdom out of the European Union and it is vital to find a way to get it over the line,’ her spokesman told reporters.
May will provide further details on the new deal in a speech scheduled to take place at 3pm on Tuesday which she hopes will provide a way forward in the Brexit process.
Parliament remains deeply divided on Brexit
May will need to deliver something special if she is going to break the Brexit deadlock that has deeply divided MPs from her own Conservative party and those in opposition.
The prime minister may offer Labour assurances in the new deal that include workers’ rights and environmental protections in a bid to secure enough support in parliament to deliver Brexit.
Whatever concessions she offers Labour in exchange of support will likely come at the expense of angering Brexiteers in her own Conservative party, leading many to view May’s latest attempt as being dead on arrival.
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Be ready to act on ECB opportunities
Learn how the ECB’s monetary policy announcements affect interest rates and price stability ahead of its next meeting in 12 December 2024.
- How might the next meeting affect the markets?
- What are the key rate decisions to watch?
- Why is the Governing Council announcement important for traders?
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.