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December 11th Vote Will Go Ahead

Next week’s parliamentary vote on British Prime Minister Theresa May’s deal will go ahead, interior minister Sajid Javid confirmed this morning, rejecting media speculation that the government might not go ahead with the vote because they could lose it.

Opposition parties, the small Northern Irish party that props up May’s government as well as many lawmakers in her own Conservative Party have said they would vote against the deal on Dec. 11.

However, Theresa May said on Saturday she would be the prime minister to take Britain out of the European Union and that parliament should back her Brexit deal to ensure certainty for the future.

May sealed a deal with EU leaders last Sunday that would see Britain leave the bloc on March 29 with continued close ties, but the odds look stacked against her getting it approved by a deeply divided British parliament.

The deal has been criticised by many of May’s Conservative MPs, both supporters of a cleaner break with the EU and those who want to keep closer ties. Opposition parties and a small Northern Irish party which props up May’s minority government have also said they plan to reject the deal.

Several of her ministers have resigned in protest at the deal, and some of her MPs have called for a confidence vote in her leadership, something some believe could happen if she loses the vote in parliament.

She said the next nine days were an important time for the country, ahead of a Dec. 11 vote in parliament on her deal.

Expect volatility over the next few weeks, call us to discuss your fx options sooner rather than later.

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