Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

After EU poll disaster, Britain's main parties gird for no-deal Brexit battle

Published 05/27/2019, 10:48 AM
Updated 05/27/2019, 10:48 AM
© Reuters. Leader of the Brexit Party Nigel Farage is pictured outside TV studios in Westminster, London

By Elizabeth Piper and Elisabeth O'Leary

LONDON (Reuters) - Britain's two main parties set the stage on Monday for a battle over a no-deal Brexit, hoping to win back voters who abandoned them for a new movement led by eurosceptic Nigel Farage and other smaller parties in European elections.

After a punishing night when acrimonious divisions over Britain's departure from the European Union were plain to see, contenders for the leadership of the governing Conservatives said the results were a demand to deliver Brexit no matter what.

Taking a different tack, the opposition Labour Party said a public vote - a new national election or second referendum - was the way to reunite the country. It pledged to make sure any new eurosceptic Conservative leader would not take Britain out of the EU without a transition deal to help protect the economy.

But with Farage's Brexit Party, which prefers a no-deal Brexit, capturing the greatest number of votes for seats in the European Parliament, closely shadowed by a group of fervently pro-EU parties, Conservatives and Labour were under pressure to commit clearly to either side of the debate.

Almost three years since Britain voted narrowly to leave the EU and barely two months after the originally planned departure date, lawmakers remain at loggerheads over how, when or even whether the country will quit the club it joined in 1973.

For the Conservatives, who will name a new leader by the end of July, many of the would-be successors see the European vote outcome as proof they must seek a cleaner break with the EU, with several saying they would leave without a deal - a move some senior pro-EU Conservatives regard as foolhardy.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

For Labour leader Jeremy Corbyn, pressure will mount to embrace a second referendum without qualification - something he has said would be needed to prevent a no-deal Brexit.

But what is clear from a vote which many used as a protest is that Brexit - which forced Prime Minister Theresa May to say she will resign on June 7 after failing to deliver Britain's departure - risks shattering the election prospects of both the main parties.

Former foreign minister Boris Johnson, the favorite to replace May as party leader and prime minister, said the election message was "if we go on like this, we will be fired".

"We can and must deliver. No one sensible would aim exclusively for a no-deal outcome. No one responsible would take no-deal off the table," Johnson, who was also London mayor, said in his regular column in the Telegraph newspaper.

"If we are courageous and optimistic, we can strike a good bargain with our friends across the Channel, come out well and on time - by October 31."

Interior minister Sajid Javid became the ninth Conservative to declare he would run for the leadership, saying on Monday "first and foremost, we must deliver Brexit".

NO DEAL

Javid was one of several prime ministerial contenders to express their belief that the disappointing result in the European vote, which put the Conservatives in fifth position, amounted to a clear demand for Britain to get on with Brexit. May said the results showed the importance of a negotiated deal.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The question posed for the Labour Party was a little different. With part of its support bolting to the Brexit Party and part to the pro-EU Liberal Democrats, who support a second Brexit referendum, some felt the pressure to change tack.

Labour's finance chief, John McDonnell, caused a short-lived sensation in seeming to signal a shift in Labour policy to unequivocally backing a second referendum - something favored by many party members but fought off by the party leadership.

But Corbyn sought to set the record straight, again saying Labour would do its utmost to stop a no-deal Brexit - something experts say might be legally trickier than many lawmakers earlier thought if faced with a eurosceptic prime minister determined to leave the EU by the current deadline of Oct. 31.

"This issue will have to go back to the people, whether through a general election or a public vote," Corbyn said in a statement.

After May announced on Friday that she was stepping down, many of her would-be successors have said they wanted Brexit with or without a deal, rejecting another public vote.

That response seemed to be a direct challenge to Farage, a former commodities broker whose campaigning helped force May's predecessor, David Cameron, to stage the 2016 EU referendum.

After the Brexit Party came out on top in Sunday's European vote with 31.6% of the vote, the 55-year-old Farage said on Monday he wanted to be included in any new negotiation to leave the EU.

But while the Brexit Party came first, with Farage's former UKIP adding 3.3% of the vote, three staunchly pro-EU parties - the Liberal Democrats, Greens and Change UK - combined for 35.8%.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"Far from providing a clear verdict, the result simply underlined how difficult it is likely to be to find any outcome to the Brexit process that satisfies a clear majority of voters," said John Curtice, a leading polling expert.

Latest comments

It's very simple, simply make a no deal exit.  Then people will be rushing to make deals.  France, Germany, Italy and France all want to keep selling us cars, so obviously they will have to make compromises with us.  All the people of this country wanted was a Common Market, which is what we were all told we were getting.  Instead we got the EU, which was a lie. The Conservative's are reaping what they have sown.  Countries work better when they have their own currencies, which they can control, otherwise countries like, Greece, Cyprus, Italy etc get stuck in Recession and cannot devalue their currencies to climb back out.  The whole EU system is flawed, whereby the poorer countries rack up ever increasing debts which are never repaid and money from the richer countries is then continuously pumped back in to keep everything working.   There isn't even a mechanism for the debt to be repaid.  It all built on a false economic model which must eventually collapse in a resounding heap!
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.