Theresa May survives confidence vote

Prime Minister Theresa May has won a vote of confidence in her leadership of the Conservative Party by 200 to 117.

The result was greeted by cheers and applause from Tory MPs as it was announced by backbench Tory chairman Sir Graham Brady.

It means Mrs May is immune from another leadership challenge for a year.

She won the confidence vote with a majority of 83, with 63% of Conservative MPs backing her and 37% voting against her.

The vote was triggered by 48 of her MPs angry at her Brexit policy, which they say betrays the 2016 referendum result.

Jacob Rees-Mogg, who led calls for the confidence vote, said it was a “terrible result for the prime minister” and called on her to resign.

The prime minister still faces a battle to get the Brexit deal she agreed with the EU through the UK Parliament, with all opposition parties and dozens of her own MPs against it.

Mrs May earlier vowed to fight on to deliver her Brexit deal, which she argues is the only option for leaving the EU in an orderly way on 29 March.

But she promised to stand down before the next scheduled election in 2022 in a night of drama at Westminster.

BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell