Trade

British MPs want to force Theresa May to sign soft Brexit deal

A cross-party group of British lawmakers is trying to make it impossible for Prime Minister Theresa May to withdraw from the EU without soft transition and trade deals, the Guardian reported.

The group, which includes several former Tory and Labour ministers and other prominent parliamentarians, wants to write a transition deal — including acceptance of EU rules — into the U.K.’s withdrawal bill. If such a transition does not happen, one tabled amendment to the bill says, Britain should not be allowed to leave the EU.

Another amendment, proposed by former Cabinet minister Dominic Grieve and signed by nine other Tory MPs, together with members of all the other main parties, gives parliament a veto right over any final Brexit outcome. The text says any final deal must be approved by a new, separate act of parliament.

The move comes amid growing fears in Britain that uncertainty about the final outcome of Brexit negotiations will soon trigger major businesses to move abroad. The British Chamber of Commerce repeated its warning last week that U.K. businesses could no longer postpone important investment decisions and would start moving production abroad if trade talks with the EU did not start by December.

“We are reaching a tipping point … where expensive contingency plans are activated that impact our wider business communities and our export potential,” BCC Director General Adam Marshall said Thursday.

Original Article

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