Investing.com - U.K. Prime Minister Theresa May will make a statement to the House of Commons at 15:30 GMT to update Members of Parliament on the government’s current Brexit position following a Cabinet meeting on Monday morning.
The statement can be viewed below and will be followed by a debate in parliament on alternatives to the prime minister's current Brexit deal.
Traders will be watching to see if the Prime Minister will go ahead with a third 'meaningful vote' on her withdrawal agreement this week.
In Brussels last week, the European Union gave the U.K. until May 22 to leave the bloc, provided the British parliament passes Prime Minister Theresa May’s Brexit deal.
If May fails to pass the bill, the EU pushed back the official departure date from March 29 to April 12 to allow parliament time to come up with an alternative solution and prevent the U.K. from crashing out without a deal.
The Northern Irish Democratic Unionist Party, which props up May\'s minority government, suggested on Monday that it would not support Theresa May’s deal in a third vote.
Following a Cabinet meeting on Monday morning, the government decided not to hold a series of its own votes in the House of Commons on Brexit, instead recognising that a cross-party amendment scheduled for Monday evening would win support.
Parliament will vote on an amendment tabled by former Conservative minister Oliver Letwin, which would give MPs power over the order of business in parliament, taking control from the government.
The amendment would allow for a series of indicative votes on the Brexit process, which would take place from Wednesday.
Watch Prime Minister Theresa May’s statement live in the video below:
Video from The Guardian