financetom
Economy
financetom
/
Economy
/
Theresa May under pressure to rule out long Brexit delay
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Theresa May under pressure to rule out long Brexit delay
Mar 30, 2019 11:52 PM

British Prime Minister Theresa May is facing a new push by members of her Conservative Party to lead Britain out of the European Union in the next few months, even if it means a potentially damaging no-deal Brexit.

Conservative lawmakers urged May against a long extension of the Brexit process in a letter sent after her exit deal was rejected for a third time by the House of Commons on Friday, a lawmaker said.

The Sun newspaper said the letter was signed by 170 of the 314 Conservative lawmakers in parliament, including 10 cabinet ministers, heaping more pressure on May, who has offered to resign if she can get her Brexit deal through parliament.

Friday's vote, on the day that the country was originally due to leave the bloc, kept Britain in political turmoil.

May has less than two weeks to convince the 27 other EU countries that she can solve the impasse. Otherwise she will have to ask the bloc for a long extension or take Britain out of the EU on April 12 with no deal to soften the economic shock.

"We want to leave the EU on April 12 or very soon afterwards," The Sun quoted a Brexit-supporting minister as saying in reference to Friday's letter.

A spokeswoman for May declined to comment on the letter.

The Conservative Party's chairman Brandon Lewis said he was aware of it but had not seen it.

Many eurosceptic Conservative lawmakers have long demanded what they say would be a clean break from the EU.

By contrast, the 650-seat lower house of parliament has voted overwhelmingly against a no-deal Brexit although its view is non-binding.

On Monday, lawmakers will try to agree on an alternative to May's Brexit plan. The options that have so far gathered most support involve closer ties to the EU and a second referendum.

The BBC said government officials had not ruled out the possibility of a run-off vote in parliament next week between the most popular option proposed by lawmakers and May's deal.

Lewis, the Conservative Party chairman, said all options were on the table but that a customs union with the EU -- an idea backed by the opposition Labour Party and some Conservatives -- would be difficult.

"We've got to look at what we can do next and we have to do something different," he told BBC radio when asked if May might try to put her withdrawal agreement to a parliamentary vote for a fourth time.

"Parliament will continue this process on Monday and we've got to look at all the options."

A customs union would fly in the face of the Conservative Party's pledges before the 2017 national election and would not respect the outcome of the 2016 Brexit referendum, Lewis said.

When asked if a way out of the impasse was to hold a fresh national election, he said he did not think British voters wanted to return to the polls.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Bitcoin Dips to $63K as Rate Cut Hopes Dim Following Disappointing U.S. Inflation Report
Bitcoin Dips to $63K as Rate Cut Hopes Dim Following Disappointing U.S. Inflation Report
Apr 25, 2024
Bitcoin {{BTC}} dropped briefly below $63,000 on Thursday as cryptocurrencies tumbled following fresh data showing hotter inflation and slower growth in the U.S. in the first quarter. The U.S. government's preliminary report for first quarter GDP showed growth of just 1.6%, substantially lower than the 2.5% analysts estimated and down from 3.4% in the fourth quarter of 2023. Meanwhile, the...
Weekly Jobless Claims Post Surprise Drop
Weekly Jobless Claims Post Surprise Drop
Apr 25, 2024
12:06 PM EDT, 04/25/2024 (MT Newswires) -- Weekly applications for unemployment insurance in the US unexpectedly declined, with the four-week moving average also falling, according to government data released Thursday. The seasonally adjusted number of initial claims fell by 5,000 to 207,000 in the week ended April 20, the US Department of Labor said. The consensus was for a 215,000...
April Kansas City Fed Manufacturing Index Posts Unexpected Decline
April Kansas City Fed Manufacturing Index Posts Unexpected Decline
Apr 25, 2024
11:09 AM EDT, 04/25/2024 (MT Newswires) -- The Kansas City Fed monthly manufacturing index fell to a reading of minus 8 in April from minus 7 in March, compared with expectations for an increase to a minus 5 print in a survey compiled by Bloomberg as of 7:45 am ET. The reading indicates faster contraction, which is in line with...
Yellen says economy performing well, inflation will ebb
Yellen says economy performing well, inflation will ebb
Apr 25, 2024
WASHINGTON (Reuters) - Treasury Secretary Janet Yellen said on Thursday that the U.S. economy continues to perform very, very well and that she still sees inflation falling back to more normal levels. The U.S. economy continues to perform very, very well, Yellen said in an interview with Reuters as she cited peculiar but not concerning reasons for data earlier on...
Copyright 2023-2026 - www.financetom.com All Rights Reserved