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Pound jumps after Brexit delay report

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Sterling has been pushed up following a report in the Evening Standard today that Britain’s exit from the European Union looks increasingly likely to be delayed because of the backlog of legislation that needs to be passed.

The pound is now up 0.58% against the dollar at $1.2823.

The paper adds that a backlog of at least six essential Bills that must be passed before Britain leaves the European Union has left ministers convinced the timetable will be extended.

The legislative timetable is now very very tight indeed,” a senior minister told the newspaper on Friday. “Certainly, if there was defeat on Tuesday and it took some time before it got resolved, it’s hard to see how we can get all the legislation through by March 29.”

Britain is due to leave the globe’s biggest trading bloc in under 80 days. BBC analysis, however, states that the Government is heading for defeat on May’s withdrawal blueprint by a crushing margin of 228 votes next week.

 




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