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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

May looks unwilling to compromise on plan B Brexit

Time is running out for the UK prime minister to come up with an alternative plan for leaving the EU and there are little signs of progress due to Theresa May refusing to budge on key aspects of her original withdrawal agreement.

UK Prime Minister Theresa May Source: Bloomberg

Theresa May is desperately trying to find an emergency back-up deal that is palatable to both British MPs in parliament and EU officials in Brussels.

The British prime minister has until Monday next week to draft an alternative deal that will satisfy both groups after her intial Brexit plan was vehemently rejected in the House of Commons on Tuesday.

But it appears there is little progress being made on an alternative exit strategy, with May refusing to budge on key aspects of her original deal, much to the dismay of opposition party leaders.

Labour leader Jeremy Corbyn refused to hold talks with the Conservative premier until she ruled out a no-deal Brexit, despite May calling on party leaders to put self-interest aside in favour of finding a way forward for Britain.

‘Before there can be any positive discussions about the way forward, the government must remove clearly, once and for all, the prospect of the catastrophe of a no-deal Brexit from the EU and all the chaos that would come as a result of that,’ Corbyn said in Westminster on Wednesday evening.

Brexit means Brexit

If May is unable to draft an alternative plan that can garner enough support in parliament to get passed, the UK could end up leaving the EU on March 29 without a deal. However, it is also possible that the Brexit process will be delayed or a second referendum could be held.

The British prime minister remains adamant that she will deliver on the will of the British people to leave the EU and has poured water on the idea of holding a second referendum, which she argues would undermine faith in democracy.

‘I believe it is my duty to deliver on the British people’s instruction to leave the European Union. And I intend to do so,’ May said outside Downing Street on Wednesday night.

‘I am inviting MPs from all parties to come together to find a way forward,’ she added. ‘This is now the time to put self-interest aside.'

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