Reed Cavendish Wealth Management - May Presses Ahead With Brexit Plan B

Reed Cavendish Wealth Management - UK Prime Minister to lay out plans for Plan B Brexit but still faces strong opposition.

After surviving a no-confidence vote, UK Prime Minister Theresa May attempted to engage in cross party talks to come up with a way forward in the Brexit debacle.

However, after refusing to change her position on several contentious issues, including a customs union, May has been unable to win the support of any Labour Party members and has abandoned cross party talks as a feasible option.

May blamed Jeremy Corbyn, leader of the Labour Party, for the failure of the cross party talks to reach any resolution. Corbyn was unwilling to meet with May based on the fact that she has refused to rule out the possibility that the UK could leave the European Union without a deal.

May has switched gears and announced on Sunday that she will insist on further concessions from the European Union regarding the Irish backstop. Reed Cavendish Wealth Management analysts say May will insist that the European Union provides a series of legally binding guarantees that the Irish backstop would truly be a temporary measure.

May hopes that her new plan will receive the needed support from the House of Commons in a vote due to take place next week.

Meanwhile, Reed Cavendish Wealth Management analysts say the European Union has stood firm on there being no alternative deal to offer and May's opposing MPs have stated that they will push for amendments to any unacceptable clauses of her deal. May's opposition has called for an extension of the Article 50 process as time is running out with less than 2 months until Britain is due to exit the European Union.

Source: Reed Cavendish Wealth Management