This should make for one awkward meeting.
No sooner did Theresa May and her cabinet members gather for what was expected to be a crucial cabinet meeting – with the opportunity for an orderly Brexit hanging in the balance – then political reporters poured cold water on reports from last night that May’s senior leadership had agreed to “begrudgingly” support her draft Brexit plan in the name of the “national interest.”
Shortly after 2 pm London Time (9 am ET), the Telegraph reported that two members of May’s cabinet, Esther McVey and Penny Mordaunt, are planning to resign Wednesday instead of backing the deal. As of last night, it was reported that Mordaunt was on the fence, but that May had expected to win her support during a private meeting Wednesday morning. Other cabinet ministers, including Brexit Secretary Dominic Raab, are said to be unhappy with the deal.
Minister: “Two members of the Cabinet will resign today”. Me: “Who?” Minister: “Penny Mordaunt and Esther McVey.” #BrexitDeal
— Christopher Hope (@christopherhope) November 14, 2018
The pound dropped on the news, and was headed back toward $1.29 in recent trade.
A mutiny by May’s cabinet ministers would not only risk sending the UK back to the drawing board for the umpteenth time, it could very well mean the end of May’s government, as conservative Brexiteers would likely move to oust her and seize control of the process. It would also greatly reduce the chances that a Brexit treaty will be forged before the March 29 Brexit Day, and increase the likelihood of a “no-deal” Brexit, and all of the disastrous economic consequences that would be expected to follow.
via RSS https://ift.tt/2K4FBX4 Tyler Durden