May Brexit Bill Unlikely to Face Much Change

Prime Minister Theresa May’s plan to leave the European Union is expected to survive weeks of intense parliamentary scrutiny, which started on Tuesday, despite pro-EU lawmakers’ attempts to force the government to rethink its strategy.

May’s government is seeking approval for a new law giving her the right to trigger Article 50 – the legal process for leaving the bloc – after the Supreme Court ruled last week that she could not take that decision unilaterally.

“This bill simply seeks to deliver the outcome of the referendum – a decision the people of the UK have already made. They will view any attempt to halt its progress dimly,” Brexit minister David Davis told lawmakers at the start of a two day debate on the bill – the first stage in the lawmaking process.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.