Brexit votes: MPs fail to back proposals again

MPs have again failed to agree on proposals on the next steps for Brexit.

The Commons voted on four motions for leaving the EU, including a customs union and a Norway-style arrangement – keeping the UK in the single market – but none gained a majority.

The votes were not legally binding, so the government would not have been forced to adopt the proposals.

Theresa May’s plan that she negotiated with the EU has been rejected twice by historic margins in Parliament.

The withdrawal agreement section of her deal was voted down again by MPs on Friday.

Mrs May now has until 12 April to either seek a longer extension from the EU to take a different course or decide to leave the EU without a deal.

Following the failure of his own motion to stay in the Single Market – known as Common Market 2.0 – Nick Boles resigned from the Conservative Party.

In a point of order following the results, the MP for Grantham and Stamford said he could “no longer sit for this party”, adding: “I have done everything I can to find a compromise.”

As he left the Commons, MPs were heard shouting, “don’t go Nick”, and others applauded him.

The results of the votes were:

  • Motion C: Committing the government to negotiating “a permanent and comprehensive UK-wide customs union with the EU” as part of any Brexit deal – proposed by Tory former chancellor Ken Clarke – lost by 273 votes for to 276 votes against
  • Motion D: Referred to as Common Market 2.0, this option would mean joining the European Free Trade Association and European Economic Area – proposed by Tory MP Nick Boles – lost by 261 votes for to 282 votes against
  • Motion E: This is for a confirmatory referendum, giving the public a vote to approve any Brexit deal passed by Parliament before it can be implemented – proposed by Labour MPs Peter Kyle and Phil Wilson – lost by 280 votes for to 292 votes against
  • Motion G: The motion aims to prevent the UK leaving without a deal, including a vote on whether to revoke Article 50 – stopping Brexit – if the EU does not agree to an extension – proposed by the SNP’s Joanna Cherry – lost by 191 votes for to 292 votes against

BBC

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Ed Moya

Ed Moya

Contributing Author at OANDA
With more than 20 years’ trading experience, Ed Moya was a Senior Market Analyst with OANDA for the Americas from November 2018 to November 2023. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies. Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Prior to OANDA he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business, cheddar news, and CoinDesk TV. His views are trusted by the world’s most respected global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Seeking Alpha, The New York Times and The Wall Street Journal. Ed holds a BA in Economics from Rutgers University.