fbpx

UK lawmakers to vote on latest bid to try to prevent a no-deal Brexit

British lawmakers will vote on Thursday on a beefed-up proposal aimed at making it harder for the next prime minister to try to force through a no-deal Brexit by suspending parliament.

Boris Johnson, the frontrunner to succeed Prime Minister Theresa May next week, has said Britain must leave the European Union on Oct. 31, with or without a deal, and has refused to rule out suspending parliament to prevent lawmakers from trying to block his exit plan.

The measure being voted on does not go as far as an outright block on parliament being suspended but lawmakers have put forward a further proposal which could require parliament to sit for several days even if it has been suspended.

The BBC reported some senior ministers, some of whom are likely facing the sack for their opposition to a no deal if Johnson wins, were considering resigning to support the proposal.

“The idea that parliament should be suspended in October … at a crucial point in this country’s history, that parliament should not be able to sit, should not be able to express its opinion and its will, I think would be outrageous,” Justice Secretary David Gauke told BBC Radio.

Asked if he would vote for the proposal, something that would require him to resign, he said: “I will have to see what the precise amendments are … I’m not in a position to necessarily say.”

The result is likely to be very close: an earlier ballot on a less far-reaching version of the proposal last week passed by just one vote.

That narrow vote was in favour of a change to a piece of legislation to add a requirement that ministers make fortnightly reports on progress towards re-establishing Northern Ireland’s collapsed executive.

Those hoping to stop a no-deal Brexit believe this could require parliament to be in session throughout the run-up to Brexit day, complicating any bid by Britain’s new prime minister to “prorogue”, or suspend, the legislature.

On Thursday, lawmakers will be asked to give final approval to the measure, which has since been strengthened by parliament’s upper chamber, the House of Lords.

The Lords added a requirement that the government’s report on its progress in Northern Ireland would need to be approved by lawmakers, giving them a possible route to try to stop a no-deal such as attaching a vote to request a delay to Brexit.

A further, more far-reaching, clause which would require parliament to sit for several days even if it has been prorogued could also be voted on.

The votes are expected in the early afternoon.

Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.

Dean Popplewell

Latest posts by Dean Popplewell (see all)
Original author: Dean Popplewell
Futures edge lower as Netflix tumbles
Morgan Stanley quarterly profit falls 10%
 
 
     
 

Latest Spot Rate

 
Wait a minute, while we are rendering the calendar
How It Works | About | Contact | Privacy Policy | Advertise
© 2009 - 2019 ChatPips. All Rights Reserved. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.