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British PM to rule out no-deal Brexit

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Italian Prime Minister Giuseppe Conte (R) with his British counterpart Theresa May playing a round of pool billiard on 24 Feby 2019 after the opening of the first LAS-EU Summit in Sharm el-Sheikh, Egypt. Mrs May will on Tuesday propose formally ruling out a no-deal Brexit in a bid to avoid a rebellion by lawmakers who are threatening to grab control of the divorce process, The Sun and Daily Mail newspapers reported.

[LONDON] British Prime Minister Theresa May will on Tuesday propose formally ruling out a no-deal Brexit in a bid to avoid a rebellion by lawmakers who are threatening to grab control of the divorce process, The Sun and Daily Mail newspapers reported.

As the United Kingdom's labyrinthine Brexit crisis goes down to the wire, Mrs May is making a last-ditch effort to get changes to the separation package but lawmakers will try on Wednesday to impose their authority in a series of parliamentary votes.

After the British parliament voted 432-202 against her deal in January, the worst defeat for a government in modern British history, Mrs  May has tried to use the threat of a potentially disorderly no-deal Brexit to get concessions out of the EU.

But many British lawmakers and some of her own ministers have warned they will try to take steps to avoid thrusting the world's fifth largest economy into a potentially tumultuous economic crisis.

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Mrs May on Tuesday will propose to her Cabinet of senior ministers that she formally rules out a no-deal Brexit, opening the door to a delay of weeks or months to the March 29 exit date, The Sun newspaper reported.

The Daily Mail newspaper said Mrs May is ready to rule out a no-deal Brexit after as many as 15 ministers said they were ready to resign.

A Downing Street spokesman declined to comment on the reports.

Reuters reported on Monday that May's government was looking at different options including a possible delay.

Sterling rose 0.4 per cent to US$1.3152, near a one month high. Against the euro, sterling rallied nearly half a percent to a one-month high at 86.31 pence.

It was not immediately clear how May would rule out a no-deal. She is due to chair a Cabinet meeting on Tuesday and then update parliament at around 1230 GMT. Her de-facto deputy, David Lidington, told BBC radio he would not disclose what Cabinet would be discussing.

REUTERS