The British Parliament voted against leaving the EU without a deal in yesterday’s parliamentary debate. The result, with 321 to 278 agreeing to avoid a hard Brexit, has set the course for another vote later on today which will determine whether the Brexit date, currently set for the 29th March - just over 2 weeks away - will be delayed.
Delaying Brexit
With Theresa May’s deal voted down on Tuesday and UK MPs determined not to crash out of the EU, postponing Brexit has now become expected, with the pound climbing its highest since last June. Should the vote to postpone Brexit pass, the EU would still need to give its blessing, and the bloc has already stated that they would only agree to the delay should there be a justified motive behind the postponement.
Would an extension be enough for the UK to agree upon a deal? Real uncertainty would set in should a delay not be agreed upon from either the UK or the EU. Although ministers are in agreement over what they do not want, they are still to agree on a what needs to happen in order to leave the EU smoothly. With no deal reached yet and a hard Brexit voted against, the UK has only 2 weeks left to make up its mind. Unless a delay is approved, the UK will leave the EU without a set agreement on the 29th March by default.
Another Brexit Deal?
Theresa May is still determined to ger her deal across Parliament, and is attempting to get an amended deal through the House of Commons by the 20th March, the eve before the EU Summit. If the deal passes the extension to delay Brexit would be set for the 30th June 2019, whilst if the UK Parliament votes against the deal again, the extension would be determined by the EU – a possibly “long postponement.”
May’s tactic is designed to scare MPs into voting for her deal, as delaying the UK’s departure from the EU indefinitely would risk the UK not leaving the EU allowing time for a second referendum. Yet the Prime Minister’s stance in Parliament seems to be weakening with four pro-EU ministers abstained from voting in yesterday’s debate.
Chetcuti Cauchi Advocates has recorded a number of webinars so as to help UK businesses be more prepared for the new policies which may be put into effect after Britain leaves the EU. Register to watch the recordings and learn how Malta can be a Post-Brexit solution for industries such as Advanced Manufacturing, Aviation, Pharma, Insurance, Asset Management and Banking.
The British Parliament voted against leaving the EU without a deal in yesterday’s parliamentary debate. The result, with 321 to 278 agreeing to avoid a hard Brexit, has set the course for another vote later on today which will determine whether the Brexit date, currently set for the 29th March - just over 2 weeks away - will be delayed.
Delaying Brexit
With Theresa May’s deal voted down on Tuesday and UK MPs determined not to crash out of the EU, postponing Brexit has now become expected, with the pound climbing its highest since last June. Should the vote to postpone Brexit pass, the EU would still need to give its blessing, and the bloc has already stated that they would only agree to the delay should there be a justified motive behind the postponement.
Would an extension be enough for the UK to agree upon a deal? Real uncertainty would set in should a delay not be agreed upon from either the UK or the EU. Although ministers are in agreement over what they do not want, they are still to agree on a what needs to happen in order to leave the EU smoothly. With no deal reached yet and a hard Brexit voted against, the UK has only 2 weeks left to make up its mind. Unless a delay is approved, the UK will leave the EU without a set agreement on the 29th March by default.
Another Brexit Deal?
Theresa May is still determined to ger her deal across Parliament, and is attempting to get an amended deal through the House of Commons by the 20th March, the eve before the EU Summit. If the deal passes the extension to delay Brexit would be set for the 30th June 2019, whilst if the UK Parliament votes against the deal again, the extension would be determined by the EU – a possibly “long postponement.”
May’s tactic is designed to scare MPs into voting for her deal, as delaying the UK’s departure from the EU indefinitely would risk the UK not leaving the EU allowing time for a second referendum. Yet the Prime Minister’s stance in Parliament seems to be weakening with four pro-EU ministers abstained from voting in yesterday’s debate.
Chetcuti Cauchi Advocates has recorded a number of webinars so as to help UK businesses be more prepared for the new policies which may be put into effect after Britain leaves the EU. Register to watch the recordings and learn how Malta can be a Post-Brexit solution for industries such as Advanced Manufacturing, Aviation, Pharma, Insurance, Asset Management and Banking.