Now That Parliament Has Seized Control Of Brexit, Here's What Happens Next | WHAT REALLY HAPPENED


Now That Parliament Has Seized Control Of Brexit, Here's What Happens Next

LAST NIGHT’S VOTE: The government was defeated by a majority of 27 (329 vs. 302) on the Letwin amendment which seeks to change the rules of parliament on March 27 in order to provide time for lawmakers to debate and hold indicative votes. It is worth noting that three junior ministers resigned in order to vote in favour of the Letwin amendment. Furthermore, MPs voted (311 vs. 314) against the Beckett amendment (F) which called on the government to seek parliament approval on a no-deal if an agreement is not reached 1 week before the Brexit date, while the Labour amendment (D) to provide parliamentary time for lawmakers to find a majority for a different approach on Brexit was not moved. Following last night’s developments, Goldman Sachs analysts maintained their Brexit probabilities (PM May deal ratification 50%, no-deal Brexit 15% and no Brexit 35%) whilst stating that they are skeptical that this week’s votes will prove conclusive.

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