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13th March 2019

Vote against withdrawal deal

Last night MPs voted overwhelmingly against Theresa May’s withdrawal deal.

This means continuing uncertainty for businesses and, for today at least, a no deal Brexit still remains a possibility as it is still the default option.  No deal means there would be no transition period and would be extremely challenging for businesses.

We expect Parliament to vote against a no deal Brexit today, but there are a plethora of possibilities that could flow from such a vote. If the EU agrees to extend article 50 and delay the UK’s exit from the EU (and this is not a given), would we face further votes on the deal, a ‘People’s Vote’, a general election or a vote of no confidence?  No deal or no Brexit are still potential outcomes.

Businesses and their leaders cannot influence any of this directly but they can and do influence what happens within their business.  Now, more than ever, businesses need to be ‘match fit’ and in the best position possible to weather the storms of economic uncertainty.

Brexit planning and preparation should still be taking place.  It’s not too late to make a start either – there are plenty of resources out there.  See our Business of Brexit pages for the resources put together by the team at Thrings.

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