May Fights Back After Lords Defeat

U.K. Prime Minister Theresa May is fighting back against Brexit rebels in her ruling Conservative Party as she steps up her battle to start the formal process of pulling Britain out of the European Union.

The premier fired government adviser Michael Heseltine after he led a 13-strong revolt in the House of Lords, helping to inflict a second Brexit-bill defeat on May in a vote on Tuesday. The upper chamber rewrote May’s draft law to guarantee Parliament a “meaningful vote” on the outcome of exit talks, potentially vetoing any final agreement and stopping the premier walking away without a deal.

May’s team insisted they would seek to delete the changes made by unelected members of the upper house when the bill returns to the House of Commons, probably next week.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam