UK: Political uncertainty looks set to continue – Deutsche Bank

According to analysts at Deutsche Bank, for the UK economy, Brexit is back again after being at the top of the agenda after a brief interlude as the government lost another vote in the House of Commons last night (329-302), with three ministers breaking ranks and resigning to support the amendment.

Key Quotes

“MPs supported the measure put forward by the Conservative backbencher, Sir Oliver Letwin, which allows MPs to take control of the parliamentary timetable away from the government tomorrow, thus allowing Parliament to hold a series of ‘indicative votes, where MPs could vote on a range of Brexit options.”

“After the vote, the government released a statement criticizing the “dangerous, unpredictable precedent” set by the vote, but nevertheless pledged to work with parliament to achieve a reasonable outcome. The statement called for “realism” moving forward and, in her comments to parliament, May referenced a second referendum or an election as potential options. Uncertainty looks set to continue.”