Wainwright Marks Management - May Could Lose Control of Brexit

March 28, 2019 - Although Brexit and its implications have monopolized news around the world for the past several months, this week will be the first time that UK parliament will have the option of being presented with a list of alternatives to UK Prime Minister Theresa May's proposed Brexit deal. Till now, May has been unwilling to concede any ground on her deal in spite of widespread criticism and deep division within her own party.

But, as May has been unable or unwilling to negotiate further satisfactory concessions from the European Union, she may well lose control of the Brexit saga this week when lawmakers will vote on whether or not to compile a list of alternatives to her proposed deal after it was voted against in the House of Commons for the second time.

If this week's motion is passed, the House of Commons will be presented with a list of up to seven options which will be subject to indicative votes. Wainwright Marks Management analysts say that among the options is the possibility of a second referendum.

Another option will be a significantly revised version of May's deal that would see the UK remaining in a customs union with the European Union.

But analysts at Wainwright Marks Management say that even if the House of Commons votes in favor of one of the alternatives presented, it would not be a legally binding decision but that given the weakness of May's position, she may be compelled to cooperate.