Brexit Brief: Prime Minister May wants opposition talks ‘as soon as possible’

British Prime Minister Theresa May has given the strongest indication yet that she will seek to rely on votes from opposition Labour MPs to win majority support for her unpopular Brexit deal.

May on Sunday evening sent a conciliatory three-page letter to Labour leader Jeremy Corbyn, in response to his offer last week to help secure “a sensible agreement” on Brexit. May’s letter outlined areas for further negotiation between the government and Labour, and suggested the two sides meet again to discuss the way forward “as soon as possible”.

It comes as the U.K. Brexit secretary Stephen Barclay prepares to meet with the EU’s chief Brexit negotiator, Michel Barnier, on Monday. The U.K. is seeking to secure some much-needed last-minute concessions from Brussels in order to win parliamentary backing for May’s preferred withdrawal agreement.

Concerns are growing that May will hold a second parliamentary vote on her Brexit deal as close as possible to the UK’s official date of exit from the European Union on March 29. This could force British parliamentarians to support her deal or risk the more unpopular option of crashing out of the EU without any deal at all.

Sterling ticked down amid the continued uncertainty. It was trading at $1.29355 at 07:30 GMT before dropping to $1.29133 at 08:00.

Meanwhile, more than $2bn has been yanked from funds that invest in U.K. companies in just eight weeks as the political and economic fallout from Britain’s departure from the EU continues to batter investor confidence.

Want news about Europe delivered to your inbox? Subscribe to MarketWatch’s free Europe Daily newsletter. Sign up here.

Filed in: Top News Tags: 

You might like:

Outside the Box: Sorry Bernie, stock buybacks aren’t to blame for America’s rising income inequality Outside the Box: Sorry Bernie, stock buybacks aren’t to blame for America’s rising income inequality
The Fed: Fed gets earful from Fidelity executive for roiling global financial markets The Fed: Fed gets earful from Fidelity executive for roiling global financial markets
The Moneyist: My husband asked me to file a joint tax return without telling me he owes back taxes The Moneyist: My husband asked me to file a joint tax return without telling me he owes back taxes
Personal Finance Daily: The $1 tip is dead and how married couples should file their taxes Personal Finance Daily: The $1 tip is dead and how married couples should file their taxes
Cryptos: Bitcoin on track for its best week in two months Cryptos: Bitcoin on track for its best week in two months
Capitol Report: State election officials recount their surprise and alarm at 2016 Russian hacking Capitol Report: State election officials recount their surprise and alarm at 2016 Russian hacking
Capitol Report: Why the $15.4 billion Kraft Heinz brand write-down was unusual Capitol Report: Why the $15.4 billion Kraft Heinz brand write-down was unusual
Market Snapshot: Dow logs longest weekly win streak since 1995 on optimism over trade talks Market Snapshot: Dow logs longest weekly win streak since 1995 on optimism over trade talks

Leave a Reply

Submit Comment
© 2019 Stock Investors News. All rights reserved. XHTML / CSS Valid.