UK PM May Under Fire Compromises Again on Brexit Bill

Prime Minister Theresa May bowed to pressure from Brexit supporters in her governing Conservative Party on Monday, accepting their changes to a customs bill that underpins Britain’s departure from the European Union.

May, vulnerable in parliament after losing her party’s majority at an ill-judged election last year, has come under fire from both wings of her party over a hard-won Brexit plan, with one ex-minister calling it the “worst of all worlds.”



Eurosceptic lawmakers had targeted her government’s customs legislation to try to toughen up her plans to leave the EU, but instead of facing them down and fueling tensions, her spokesman said the government would accept their four amendments.

It was not clear the move would fundamentally change her plans – the changes do little more than to put government policy into law, her spokesman said – but it was a victory of sorts for those lawmakers who say May has betrayed them on Brexit, the biggest shift in British trade and foreign policy for decades.

“We will be accepting those four amendments,” the spokesman told reporters, saying the government believed they were “consistent” with the white paper policy document ministers agreed earlier this month.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza