'These are not normal times': Reaction to May's defeat

Attention turns to no-confidence vote

Tom Eckett
clock • 3 min read

Industry commentators are expecting markets to remain volatile as uncertainty continues following the historic defeat for Prime Minister Theresa May's Brexit deal on Tuesday night.

The UK Government lost the vote on its Withdrawal Agreement and Political Declaration on the UK's future relationship with the EU by a historic margin of 432 votes to 202. This led Labour leader Jeremy Corbyn to table a vote of no confidence in the government immediately after the defeat, which will take place this evening. If Labour wins the vote then it is expected to call for a general election while if unsuccessful May will have to come up with a ‘plan B'. Laith Khalaf, senior analyst at Hargreaves Lansdown, warned the vote tonight would be another "pinch point" for currency ma...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Four potential 'black swans' for 2025

Four potential 'black swans' for 2025

'Four unlikely but nonetheless plausible scenarios'

Nathan Sweeney
clock 03 January 2025 • 4 min read
What two pizzas tell us about Bitcoin

What two pizzas tell us about Bitcoin

Laszlo Hanyecz really needed a slice...

Laith Khalaf
clock 19 December 2024 • 6 min read
Rise in UK inflation 'unwelcome' ahead of BoE interest rate meeting

Rise in UK inflation 'unwelcome' ahead of BoE interest rate meeting

Bank of England MPC meeting due on Thursday

Sorin Dojan
clock 18 December 2024 • 3 min read