May Sets Date for New Brexit


British Premier Theresa May announced right after a meeting with the Labour Party’s Jeremy Corbyn that the British parliament is voting again on an exit deal during the first week of June. The vote will coincide with the U.S. President Donald Trump’s visit to the United Kingdom.

"This evening the Prime Minister met the Leader of the Opposition in the House of Commons to make clear our determination to bring the talks to a conclusion and deliver on the referendum result to leave the EU," said a Downing Street Spokesman. "We will, therefore, be bringing forward the Withdrawal Agreement Bill in the week beginning the 3rd June," he added.

The spokesman also implied that the talks with the Labour party are continuing and that is "imperative" they approve a deal before the parliament's summer recess, so the UK would be able to leave the European Union then. He also added that the ongoing talks are "useful and constructive."

This would be the fourth time the British parliament votes for a withdrawal deal proposed by Theresa May. They rejected the last three increasing the possibility of leaving the union without a deal.

British MPs Question May's Decision

Meanwhile, some British MPs have questioned May's decision to hold this vote in June.

Democratic Unionist Party Nigel Dodds noted that the deal would be defeated again if it doesn't provide a solution for the Irish backstop problem.

"For the bill to have any prospect of success then there must be a real change to protect the economic and constitutional integrity of the United Kingdom and deliver Brexit," he added.

MP Steve Baker also expressed his disconformity with May's decision.

“If the Brexit Party were demanding we pass this withdrawal agreement, a vote might just make sense. But they aren’t. Quite the reverse," he said.

The UK is set to leave the European Union on October 31, after delaying the date twice. Whether the United Kingdom will leave before with a deal is still not clear, since the Labour party support is key and it seems that they are not willing to support a deal without their previous approval.

Sara Patterson has a Master’s Degree in political science and enjoys analyzing both current events and the international markets to get a fuller perspective of the currency market. Before turning to financial writing, she taught English writing skills to high-school age students. Sara’s work has been published on various financial and Forex blogs.