UK in Limbo as Brexit Breaks Down

UK in Limbo as Brexit Breaks Down

2019-01-16T16:36:37+00:00January 16th, 2019|Export, Freight Market, Freight Talk, Import|

Britain’s Prime Minister, Theresa May, suffered a devastating defeat when the proposal to leave the European Union (EU), Brexit, lost in a 432 to 202 vote against withdrawal in Parliament.

The vote was the biggest defeat for a Prime Minister in modern times, leaving the country in uncharted territory as the March 29th exit deadline draws closer.

Now, the UK government has three days to map out a new plan of action. May, however, faces an even greater obstacle as Parliament looks to file a motion as to whether they have confidence in her government. If she manages to survive the no-confidence vote, she would have to return to Parliament with a new plan for leave the EU by January 21st.

WHAT HAPPENS NOW?

RENEGOTIATION

May will return to Brussels in the next three days to appeal to the EU for more concessions and attempt to win the approval of Parliament, once again.

GENERAL ELECTION

If Parliament succeeds to vote May out of power, the current Parliament has 14 days to win back the support of lawmakers. If that isn’t possible, a General Election could occur to replace May.

SECOND REFERENDUM

After May returns with a revised exit strategy, Parliament will vote again on the withdrawal. If Parliament still can’t come to an agreement, a second referendum will be proposed.

ARTICLE 50 EXTENSION

Under Article 50 of the European Union treaty, Britain can request an extension to the March 29th deadline. The extension would then have to be approved by the EU’s other 27 members.

NO BREXIT

If a second referendum or extension of Article 50 is needed, the people of Britain could see the UK remaining in the EU.

BREXIT WITH NO DEAL

The most likely default option. Failure to leave Brexit with no deal will leave the country in extreme economic damage.

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