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Latest Brexit Motion Rejected

The House of Commons votes against May’s amendments

On the 14th February, the House of Commons voted against the latest amendments to the Brexit deal. This vote, although merely symbolic, sends a message that there is still a lack of agreement on the way forward following the rejection of the original Brexit deal on the 15th January. Many argue that this defeat is bringing the UK closer to a no-deal exit.

The UK’s Approach

The British Prime Minister has been working with EU leaders in order to address the controversial clauses within the Brexit agreement, mainly that of the backstop guarantee for Irish borders. Upon voting on the original withdrawal agreement, this clause caused significant commotion, where Pro-Brexit MPs argued for it to be completely taken out of the agreement. However, the issue at hand is that EU leaders are unwilling to change the text of the agreement. Theresa May has, hence, been trying to mediate between the EU and the House of Commons to change their stance on such an issue and finally reach a settlement.

The way forward

The House of Commons have another important vote in two weeks’ time, where they will be discussing and making decisions on the outstanding issues. This vote has significant importance as MPs will be arguing for the extension of the 29th March deadline as well as the issue of a no-deal Brexit.

Despite the fact that the UK is already facing economic troubles as a result of the uncertainty of the way forward, the biggest threat to its economy will be in the case of a no-deal Brexit. Hence, many are pushing towards it being taken off the table in the case that the 29th March deadline is not met. Chetcuti Cauchi have recorded numerous webinars in order to prepare businesses on the way forward in a post-brexit world, particularly for those involved in advanced manufacturing, aviation, pharma, insurance as well as banking. This will address any queries on how to maintain relations with the rest of Europe, regardless of the Brexit agreement reached. 

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Mr Steve Muscat Azzopardi

Senior Manager, Corporate and Fintech +356 22056608

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