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Brexit update – 26th March 2019

26 Mar 2019

 
Yesterday (25th March 2019), the Prime Minister Theresa May addressed the House of Commons about what was next for Brexit. There are four options…

No deal


No Deal remains as the default result if a deal or alternative Brexit cannot be agreed upon by 29th March, however both the UK and EU are against this.

A different form of Brexit


Whether it’s still being within a Custom’s Union, the single market, or having a Canada style agreement, Brexit could be more intricate than simply leaving with or without a deal.

A second referendum


Theresa May is notoriously against a Second Referendum, stating that the Government must honour the decision of the British public from the original referendum in June 2016. Parliament also voted against a second referendum earlier this year, however have their minds changed now?

A longer extension of Article 50


A longer extension to Article 50 (which surpasses 22nd May) would mean the UK would have to vote in MEPs (Members of European Parliament), which seems a bit silly if we’re leaving the EU, so both the EU and Theresa May’s Government have been against this.

 


Indicative Votes


There will be a series of indicative votes on Wednesday 27th March to see what it is that Members of Parliament actually want, so we may find out which way Brexit is going!


There is one flaw in these votes. Theresa May stated in her speech yesterday that the Government is under no obligation to accept the result of any indicative votes as final (as they’re just indicative and not legally binding) It’s also unable to or unwilling to ‘hand over a blank cheque’ to give the House of Commons what it wants if the result of said votes is not ‘do-able’.


 

We shall see what happens! Watch this space for updates.

 


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There’s no need to panic buy your currency in advance of your next four holidays, but if you are worried about the rates dropping, why not buy some now and some when you’re going away?


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