No-deal Brexit looms closer as Parliament reject all four proposals

No-deal Brexit looms closer as Parliament reject all four proposals

The British pound rose on Monday as investors prepared for parliament to vote on a series of Brexit options, with some hoping that the current uncertainty will end in a softer Brexit than Prime Minister Theresa May's defeated withdrawal agreement.

Asked if May would have to go back to Brussels and seek a customs union if parliament voted for it, Gauke said: "If parliament is voting overwhelmingly against leaving the European Union without a deal but is voting in favour of a softer Brexit, then I don't think it is sustainable to say we will ignore parliament's position and leave without a deal".

They voted 280 to 292 to oppose the proposal that confirmative public vote will be conducted on Brexit.

The options included remaining in a customs union with the EU - which failed by just three votes - and holding a new referendum on Britain's membership in the bloc. She is under enormous pressure from both party wings to decide whether to put her own deal forward for a fourth vote, or switch to a plan B. But she has been warned that ministerial resignations will be "unavoidable" if she picks either no deal or a customs union.

Reacting to the votes, Brexit Secretary Stephen Barclay told the Commons that "the only option is to find a way through which allows the United Kingdom to leave with a deal".

Tory MP and European Research Group (ERG) vice-chairman Mark Francois said: "This evening, an attempted coup took place in the House of Commons, involving leading members of the Cabinet and backbenchers to prevent Brexit".

Sterling rose 0.8 percent to as high as $1.3135, also finding support from better-than-expected manufacturing survey data and media reports that the opposition Labour party would support closer ties with the European Union in Monday's series of votes on parliament's favoured Brexit option.

"I accept I have failed".

The chief executive of industrial manufacturer Siemens U.K. implored lawmakers to unite around a compromise deal, saying "Brexit is exhausting our business and wrecking the country's tremendous reputation as an economic powerhouse".

"I regret therefore to announce I can no longer sit for this party".

Brexit Secretary Stephen Barclay told MPs that if they wanted to secure a further delay from the European Union, the Government must be able to put forward a "credible proposition" as to what it would do. "The Government continues to believe that the best course to take is to do so as soon as possible".

Labour leader Jeremy Corbyn said it was "disappointing" that none of the options had won a majority, but said MPs should have a chance to consider them again on Wednesday.

"A hard Brexit becomes almost inevitable", warned Guy Verhofstadt, who chairs the European Parliament's Brexit Steering group, after the votes.

In a bid to break the impasse, lawmakers on Monday voted on four alternative Brexit options, but all four options were defeated.

The votes were not legally binding, so the government would not have been forced to adopt the proposals.

Cabinet ministers will meet on Tuesday to discuss the outcome of the ballots, and could still decide to hold a fourth vote on May's deal on Wednesday or Thursday.

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