X

UK Parliament Rejects Proposed Brexit Withdrawal Agreement

The UK Parliament rejected Prime Minister Theresa May's proposed withdrawal agreement for Britain's departure from the EU. The proposed agreement was defeated by 230 votes. Members of Parliament voted 432 to 202 against the deal.

The European Commission and UK negotiators had issued a draft of the terms of the UK's exit from the EU on November 25, 2018. In addition, the UK and the EU had prepared a political declaration on a "future framework" for the relationship between the UK and the EU.

Commentary

The fact that the UK Parliament failed to approve the withdrawal agreement and declaration increases the risk of a disorderly Brexit. The uncertainty for many industries, including financial services, continues.

Email me about this

Primary Sources

  1. UK Parliament Press Release: Government Loses "Meaningful Vote" in Commons
  2. European Commission: Draft Agreement on Withdrawal of UK from European Union and European Atomic Energy Community
  3. as Endorsed by Leaders at Special Meeting of European Council on November 25
  4. 2018
  5. European Commission: Political Declaration Setting out Framework for Future Relationship between European Union and United Kingdom

Tags

Jurisdiction
US - Federal