Labour Leader May Back a Second Referendum

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The leader of the British Labour Party, Jeremy Corbyn, may change his position regarding Brexit and would openly push for a second referendum.

Corbyn, who has been hesitant in the past regarding backing a referendum, is meeting with his head of policy Andrew Fisher and members of the shadow cabinet to discuss a paper that proposes this alternative.

This would define Labour´s position clearly against the conservative party leadership stance on the Brexit. The Torys, who is amid a political contest that would define their next leader and the next British Prime Minister, have consistently expressed their will to deliver the Brexit, despite internal disagreements UK Labour Partyregarding leaving with or without a deal.

The Labour party has its own internal divisions, as its members don´t agree regarding pushing for a second referendum. This is because the last elections showed that voters are fed up by the Brexit Deadlock. Labour Deputy Tom Watson, for example, has recently advocated for a second referendum, calling it the “the least bad option” and favoring remaining in the Union. Other Labour party personalities have expressed similar opinions, like Emily Thornberry and Sir Keir Starmer.

Nevertheless, this would be opposed not only by their rivals in the conservative side (who are willing to honor de first referendum result) but by some Labour members who have a eurosceptic stance. Boris Johnson, the potential next leader of the Torys, has previously stated that he favors leaving the European Union at the end of October with or without a deal, despite preferring leaving with one.

Corbyn has been reported supporting a general election over a second referendum in the past, which may make difficult to convince Labour party members who are in favor of remaining in the union. Corbyn has also been called a Eurosceptic in the past by his opponents, given his political views about the union.

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.