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NewsBreak: UK Parliament Amendment Vote Ends Hope for Brexit Deal This Weekend

Published 19/10/2019, 14:58
Updated 19/10/2019, 15:25
© Reuters.

Investing.com - Members of Parliament voted to approve the Letwin amendment to Prime Minister Boris Johnson's Brexit deal on Saturday, which forces Johnson to seek another Brexit extension. That ends the Brexit deal hoped for the goverment for this weekend.

Members of the government left the House of Commons following the result of the vote as they no longer intend to participate in the vote on Boris Johnson's Brexit deal.

The Letwin amendment passed with 322 votes in favor and 306 against, giving the amendment a majority of 16. The amendment withholds approval of Johnson's deal until the legislation to enact it is passed.

Boris Johnson took to his feet following the vote saying: "the meaningful vote is now devoid of meaning". The government will bring the deal back to parliament on Monday.

Johnson is required by law to request an extension beyond the Oct. 31 date from the European Union, however he suggested in the House that he would not negotiate a delay with the EU, saying: "I will not negotiate a delay with the EU and neither does the law compel me to do so."

According to ITV's Paul Brand the PM will tell the EU to reject Parliament's request for a delay. Brand wrote on Twitter: "BREAKING: No 10 source “Parliament has voted to delay brexit yet again. The PM will not ask for an extension - he will tell EU leaders there should be no delays, they should reject Parliament's letter asking for a delay, and we should get Brexit done on 31 October”.

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Latest comments

i,m going to buy gbp. trust me i,m invester.
this year will be a tougher year, next year will be a new and better earnings year
Will gbp drop tmr??
gbp will spike
I have an investment platform, cryptocurrency
This total nightmare , sound market movement negative mode .
The biggest risk short term regarding BREXIT is whether or not Macron or other EU representatives will veto a thirds extension. Will most likely depend on next week's outcome on the actual BREXIT vote
Refused the banker offer, then open that red box, it’s 1p. ;-)
No
Is the parliament pass the deal of Boris Johnson???
The people of britain are getting agitated by the whole process. What worries me the chance of civil unrest increases everytine this is pushed back.
Looks my long entries for DXY will be filled quicker than I expected.
Good time to sell EU GU on Monday
Bad news for market
if just a minor amendment
You miss the point of the amendment entirely; remainers could scupper the main deal by frustrating its progress through parliament, thus this goal is simply to delay Brexit yet again. Letwin is a pompous remainer, but ironically he will be quieted by EU who want a rapid deal...
if EU agreed to the Amendment deal 31 Oct brexit still possible.
deal or no deal. GBP will bounce back in the long run.
Friday usually is relax day but dam all the mad investors let it spike.. .
GBP might fall but not so much if investors are patient enough to wait for the vote on the deal on Monday/Tuesday. It might fall if Boris doesnt request for an extension tonight
it won't get down more half % and it will go upward again the market is leading forget the parliament rubbish..
Not sure why imvestors went mad Friday. Tomorrow when the exchange opens there will be a Frenzie tryinv to sell GBP as it will come crashung down. I did warn you that it was too ambitious, but did anyone listen
We should have listened to you O oracle
I left my GDP/USD open... This can't be right
I don't know why the £ went up in the first place. Not by that much anyway. Deal or no deal...at this moment in time nothing has changed with the UK economy. So why would the £ go up if Britain left the EU without any trading partners outside the EU? Just currency speculators.
what next for the pound? will it drop or not?
Boris now can ask for an extension of approimately of 5 minutes delay to be within ‘law’. The EU will offer 3 mths instead and Boris can refuse saying it’s too long after 3.5 years.
now there's a senario. perhaps you should texted him advising him of your option. but don't inform the labour, liberal MPs or SNP SMPs or acoicated members of.
It passed? Lol no...the deal wasnt approved so they just pressured boris to delay the brexit and he already said no...so a no deal is back in place...this is a nightmare
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