Brexit-related volatility is back for the pound as reports that Theresa May might offer MPs a vote on a second referendum has renewed hopes that Brexit might be abandoned altogether.
May reportedly ran the plan by her cabinet, but according to some reports, she backed down after Brexiteers in her cabinet refused to back the plan.
More on this – as per @rowenamason , sources say Brexiteer ministers pushed back PM suggestion of putting customs union and second ref on face of the bill – in nerd terms this is a big deal https://t.co/BOawztavlV
— Laura Kuenssberg (@bbclaurak) May 21, 2019
https://platform.twitter.com/widgets.js
Earlier today, the pound reacted to news that May would be holding a press conference to outline a new Brexit proposal.
- MAY POISED TO OFFER MPS VOTE ON HOLDING 2ND BREXIT REFERENDUM
- VOTE ON 2ND REFERENDUM CONDITIONAL ON BILL PASSING 1ST STAGE
- PARLIAMENT WOULD VOTE ON PUTTING BREXIT DEAL TO REFERENDUM
It’s unlikely that a second referendum would be approved, as the indicative votes held back in March showed it wouldn’t have the support of a majority of MPs, but the fact that a “People’s Vote” on May’s deal is back in the conversation is enough to ignite hopes that Brexit will simply be abandoned.
May will be speaking shortly.

Zero Hedge’s mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information’s unending quest for freedom. Visit https://www.zerohedge.com
This post has been republished with implied permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.