Brexit Vote: Embarrassing Defeat for Theresa May
After roughly 2 years of back and forth, MPs finally cast their votes on the Brexit deal suggested by Prime Minister Theresa May. Unsurprisingly, Parliament is not in favor of her strategy. The result was a defeat for May with the numbers being 432-202. Not only did the opposition strongly oppose her deal, but there have been a lot of Brexit-related resignations recently, so even more people could vote against it.
Prime Minister May has insisted on every occasion that her Brexit deal is the best possible option for the United Kingdom, but she hasn’t been able to convince anyone. At this point in time, lawmakers, businesspeople, and various other parties have gone out of their way to convince May that Brexit is the wrong course of action, though she remains undeterred.
In light of this defeat, the looming deadline of March 29 becomes even more fearsome as May is risking a no-deal exit, which most definitely will have economic consequences, particularly for those in the UK whose businesses rely on cross-border deliveries being made on time. May has time till Monday to devise an alternate deal, her only option after the embarrassing defeat in the Brexit vote.
The most popular option for lawmakers is to hold a second referendum in hopes that the public consensus has shifted to being anti-Brexit. However, Labour Party leader Jeremy Corbyn insists that early elections is the best possible solution, implying that him being in power will be best. Corbyn has also tabled a vote of no-confidence against May to force early elections. The vote is scheduled for 19:00 GMT on Wednesday.
A no-deal Brexit is the biggest concern on many minds and is the one course of action that everyone has categorically rejected. At the same time, businesses find themselves bracing for a no-deal Brexit in order to protect themselves. This is, of course, not an endorsement but evidence that businesses are losing faith in May’s ability to construct an effective deal.
The United Kingdom is traversing uncharted waters, and it remains to be seen how the entire debacle will turn out as no resolution seems likely at the moment.