Economy

Brexit: as odds stack up against Theresa May, what next?

Britain faces the prospect of political and economic limbo after a historic vote on Theresa May’s Brexit withdrawal deal on Tuesday, leaving economists and bookmakers sizing up the odds on her – and her country’s – future options. Laura Frykberg reports.

WILLIAM HILL SPOKESMAN, RUPERT ADAMS,

“Every penny of bet we’ve taken on this has been for her to fail.”

Not great odds for the UK Prime Minister..

As punters as well as many in parliament bet against her Brexit withdrawal deal.

But the next question is if Theresa May’s plan is voted down..

then what happens next?

CHIEF ECONOMIC ADVISER, CEBR, VICKY PRYCE,

“If she doesn’t lose it by very much she might then – well she has to come back in three days – and say she has another plan. ”

That plan could be to seek more EU concessions

and then return to parliament to vote on the deal again.

But if she suffers a larger defeat….

CHIEF ECONOMIC ADVISER, CEBR, VICKY PRYCE,

“So she may well come back and say well at least we are ruling out no deal and I am going back to see what I can get and possibly get an extension of Article 50.”

All this though does little to reassure the business community..

about their future…

The UK’s biggest trading partner is the EU..

HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER,

“It would be disastrous if the British left the EU with a disorderly Brexit. It would put the location Great Britain into great danger. But it would also be disastrous for German exporters because of Great Britain as an export destination.”

The other outcome is a political shift.

Opposition leader Jeremy Corbyn says he would trigger a vote of no confidence in May..

If her deal’s defeated. That could lead to another election.

And then there’s the trade negotiations that FOLLOW the withdrawal..

whenever or however it happens..

CHIEF ECONOMIC ADVISER, CEBR, VICKY PRYCE,

“There are still going to be two years – maybe longer – of trade negotiations which are not going to be particularly good for the economy or business in general.”

Campaigns for another public referendum on the issue are still

for some a lifeline..

As one of the deepest political crises in Britain

for at least half a century comes to a head.


Associated Links

  • Baader Bank
  • House of Commons of the United Kingdom
  • Government of the United Kingdom
  • Brexit
  • Euroscepticism in the United Kingdom
  • Withdrawal from the European Union
  • Theresa May
  • European Union

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