Theresa May expected to resign as PM to get her Brexit deal done
The British prime minister is expected to offer her resignation to sweeten her Brexit deal on Wednesday with the hope of getting it through the House of Commons in a vote later this week.
Theresa May is expected to indicate a date for resignation as prime minister as a means of making her twice-defeated Brexit deal palatable enough for MPs to swallow when her revised withdrawal agreement faces a third vote in parliament later this week.
As it stands, it is unclear how, when or if Britain will leave the EU, with May expected to get MPs to vote on her revised Brexit deal for a third time later this week, as several Conservative rebels, including Jacob Rees-Mogg, reluctantly choose to get behind May’s withdrawal agreement.
British lawmakers hold indicative votes on Brexit
Meanwhile, MPs in the House of Commons are desperate to take Brexit out of May’s hands, with lawmakers set to hold indicative votes on a range of alternative options, including a much softer exit from the EU to bailing out of the bloc without a deal and even revoking Article 50 altogether.
British lawmakers are scheduled to debate and vote on all manner of alternative Brexit options in parliament on Wednesday at around 7:00pm GMT, with the results announced at 9:00pm.
Theresa May’s offers her premiership on a plate
May is still hoping that she can secure enough support in parliament to edge her deal over the line, with the prime minister expected to indicate a date for her departure on Wednesday afternoon during a meeting with members of the 1922 Committee, a group comprised of Conservative backbench MPs.
‘The prime minister might get a deal over the line on Thursday or Friday,’ Oliver Letwin, a Conservative former cabinet minister told Reuters. ‘If she does, no one would be happier than I am.’
‘If, however, that doesn’t happen and if we do go forward to Monday, and if on Monday one or more propositions get a majority backing in the House of Commons, then we will have to work with the government to get the government to implement them,’ he added.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Trading around Brexit
Find out how the UK’s exit from the EU continues to affect traders, and discover:
- The unique opportunities in a ‘hard’ and ‘soft’ Brexit
- The markets you should be watching
- Everything that’s happened so far
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.