Mrs May - in office but not in power
THERESA May's government won on Wednesday a vote of no-confidence in Parliament after her monumental Brexit withdrawal bill loss on Tuesday. The UK prime minister therefore remains in office but not in power, at this critical juncture in UK history, and the country could still be heading into a political crisis in coming weeks.
Now Mrs May has won the no-confidence vote, which saw Brexiteers rally behind her rather than enable a change of government, the next formal step in the Brexit process is that she will present a "new" withdrawal plan within two working days with a statement expected Monday.
In the meantime, the prime minister has said she will pursue cross-party Brexit talks to try to deliver a withdrawal deal that "honours the 2016 referendum result" implying she continues to rule out a second referendum, or even Labour's idea of a full customs union with the EU.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access