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Brexit update - 27th February 2019

27 Feb 2019

 
What will happen after the second Meaningful Vote?

The second Meaningful Vote is coming up by 12th March, which could either see Theresa May’s Brexit Deal accepted, No Deal accepted or a limited extension of Article 50 until June 2019 and therefore a delayed Brexit.

What does this mean?


Members of the House of Commons could have two things to vote on in the next Meaningful Vote.

The first is whether Theresa May’s new deal will be accepted. If it is, then the UK will leave the European Union on the 29th March.


If the deal is again rejected, there will be a second vote on whether we should leave the EU without a deal. If MPs vote to leave the EU without a deal, we will instantly leave the EU on 29th March. If they vote against No Deal after rejecting Theresa May’s deal, Article 50 will need to be extended.


Theresa May has said she does not want Article 50 extended, however if neither her deal nor ‘no deal’ is accepted, the government won’t have a choice but to extend it.

Brexit options for the second Meaningful Vote


How does this affect your travel money?


The GBP – EUR rate is currently at a 21 month high, however we cannot speculate on whether the result of either vote will affect it. We always encourage our customers to buy their travel money when they need it. If you’re worried about rates dropping, we suggest perhaps buying some now and some later when you’re going abroad.


You can also take advantage of our free Rate Watch service, which sends daily texts or emails to you with the exchange rates you want, so you know when it’s the best time to buy.

 


Don’t forget about your passports

Once we leave the European Union, you may need at least 6 months left on your passport to be able to travel to countries within the EU. You can read more on passport rules after Brexit on the GOV UK website.

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