Search ForexCrunch

The RTE reported that the Labour Party has confirmed the failure to reach agreement during cross-party Brexit talks in London. The news came after the British government’s official acceptance that it cannot get a withdrawal deal through the Houses of Parliament in time to avoid European elections on 23 May, the report said.

Key readings from the news report state:

  • Prime Minister Theresa May’s effective deputy David Lidington confirmed the elections will go ahead, but said the government was “redoubling our efforts” to get a Brexit agreement ratified by the start of July so the MEPs elected this month will never have to take their seats.
  • Labour’s business spokesperson Rebecca Long-Bailey MP confirmed negotiations on a new deal that could win a parliamentary majority have still to bear fruit.
  • Meanwhile, British Foreign Secretary Jeremy Hunt has said he is not a believer in a post-Brexit customs union with the European Union, but that both the Conservative and Labour parties should compromise to deliver Brexit.