Watch Live: Leader of the House Andrea Leadsom plans Brexit statement for approx. 17:00 GMT
|- The leader of the House Andrea Leadsom will make a statement scheduled for around 17.00GMT.
We already have heard that a debate on Friday ‘will not be a meaningful vote on a deal but PM May must secure Commons approval for her deal by 11pm Friday to delay Brexit until May.
What we know is that British MPs are to vote again on Brexit on Friday, although the debate will not amount to a third attempt to pass a “meaningful vote” on prime minister Theresa May’s EU withdrawal package. Leader of the House Andrea Leadsom told MPs that the House of Commons will hold an unscheduled sitting on March 29th in order to consider a motion on EU withdrawal.
We are waiting for confirmation as to whether Ms Leadsom will ask MPs to approve the withdrawal agreement reached last November, but not the political declaration setting out plans for a future trade and security relationship with the EU This alone will allow the UK to qualify for an extension in Brexit talks to May 22nd under the terms set down by the European Council last week. However, last year's EU Withdrawal Act stipulated that both the withdrawal agreement and the political declaration should be approved by MPs to pass the “meaningful vote” allowing the deal to be ratified.
Key notes:
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GBP/USD Technical Analysis: Cable dropping towards 1.3100 handle
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Brexit: UK government source says Friday's vote is not MV3 - Reuters
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Brexit: PM May to put the Withdrawal Agreement to vote without the Political Declaration
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