MPs plan to block no-deal Brexit, prompting snap election if successful
British lawmakers will attempt to block PM Boris Johnson from enacting a no-deal Brexit on Tuesday and, if successful, the challenge could prompt a snap election just two weeks before the October 31 deadline.
MPs plan to block the British Prime Minister Boris Johnson from pursuing a no-deal Brexit on Tuesday when they return after the summer recess.
If British lawmakers are successful with their challenge to avert bailing out of the EU without a deal it could prompt the prime minister to call for a snap election on October 14 – just two weeks ahead of Brexit deadline on October 31.
Brexit: Path ahead remains unclear
More than three years have passed since the EU referendum on 23 June 2016, though the country is no closer to reaching a decision on how, or even if, the UK will leave the bloc.
If British lawmakers are successful in blocking a no-deal Brexit on Tuesday, Johnson has previously warned MPs that he would push for a snap election, with the aim ensuring that Britain leaves on October 31 ‘no ifs or buts’.
British lawmakers join forces to block no-deal Brexit
Opposition MPs and rebels from Johnson’s own Conservative Party intend to use their first day back in Parliament after the summer recess to block a no-deal exit, with them boasting adequate numbers to succeed.
‘The priority is to prevent a no-deal exit from the EU on 31 October,’ Labour Party leader Jeremy Corbyn said in an interview with BBC News.
‘Once the legislation goes through then there’s an extension of Article 50 for three months from the end of October. Let’s see what happens after this legislation has gone through, and if an election is called I’m absolutely ready to fight it, and our party is ready to fight it.’
Sterling slides to three-year low amid Brexit chaos
The pound hit a three-year low against the dollar on Tuesday amid further Brexit chaos, with it falling below $1.20 – its lowest level since October 2016 – before recovering slightly. It sits at $1.20353 as of 14:55 on Tuesday.
Sterling has also lost ground against the euro too, with it falling below €1.10, sitting at €1.09939.
Practise trading GBP/USD and other major currency pairings with an IG demo account
The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.
Trading around Brexit
Find out how Britain’s EU exit continues to affect traders, and discover:
- How you can trade on Brexit
- The markets you should be watching
- Brexit trading strategies for key assets
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.
