In the evening of 15 January, UK PM Theresa May’s Brexit deal was overwhelmingly defeated by parliament with 432 MPs voting against and just 202 voting in favor. This crushing defeat is the largest in the country since the 1920s. So what can we expect in the next episode of this long-running Brexit show? No deal? A new deal? An early general election? Brexit cancelled? Below is a list of the possibilities:
- No deal. PM May has until Monday 21 January to tweak the deal and re-submit it to parliament. However her position is under threat and although likely to survive, a no-confidence motion is set for this evening’s session, further weakening her bargaining position vis-à-vis Europe. The big risk now is that the UK eaves the EU on 29 March without any agreement at all. The business community is clearly aghast with Carolyn Fairbairn, CBI Director-General, stating,“Every business will feel no deal i
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