House of Commons Voted Down Theresa May’s Brexit Deal

  • Jan 16, 2019 GMT
  • Team Kalkine
House of Commons Voted Down Theresa May’s Brexit Deal

House of Commons outvoted Theresa May on her proposed Brexit deal by a humongous number on Tuesday night that saw 432 votes winning over 202. She quelled a loss by 230 votes and about 118 MPs out of 317 Conservative MPs voted her deal down. This represented a defeat for a government since 1920. Post two years of immaterial negotiations, the House of Commons gave their verdict on tumultuous deal, which is of great significance.

Jeremy Corbyn, Labour leader proposed a no confidence motion against Theresa May in the house post the decisive defeat of May’s deal.

Responding to her debacle in House of Commons, Prime Minister said that members of the house have thought about what they are opposing to but not what they want. She also mentioned, and requested MPs of the house to pay attention to the British citizens who yearn to settle this issue.

Labour leader Jeremy Corbyn then assured that MPs are going to show no confidence motion for Theresa May’s government. Although May’s government has majority in the house with backing from DUP, votes of their ten MPs will be vital in any confidence vote.

While a mixed wave is seen through the MPs of Conservative and Democratic Unionist Party in terms of May’s chance to win the confidence in the house, things look to be a bit topsy-turvy in terms of winning the confidence motion in the house.

May is left with just five more days, and on 21st January she must present plan B in front of the house. Meanwhile, she must sit with MPs from all parties to try to fix changes in the deal that could get support from Conservatives and Democratic Unionists.

Emmanuel Macron, France’s President said that no-deal exit would be a catastrophe for Britain, adding to it he said, one or two points could be improved in the withdrawal deal.

Michel Barnier has notified the UK House to decide fast on what they want in new Brexit deal, rather than agreement getting overwhelmingly rejected by the MPs of the British Parliament.

Given this historic defeat on the deal, one possible way is to go back and reopen negotiation with EU again, but that could push the Brexit day which is scheduled on 29th March this year.

Brexit hits house prices

Home shoppers have put their transactions off the table because of uncertainty around Brexit. As per some official data, UK house prices are plunging over the past two years, mainly on account of slowdown in south and east of England.

London home prices have been plunging every month since July 18, while potential shoppers are postponing trade in the south of the England post EU withdrawal.

In the aftermath of historic defeat at Westminster, the state must set out how events will be taking a shape around next Monday. Political thinkers from EU, Brexit and other related jurisdictions are speculating that May could defer Brexit which is scheduled on 29th March this year.

With Bank of England reducing the interest rates to a historic low level, the spotlight is back on diverse investment opportunities. 

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