Published: Fri, July 20, 2018
Markets | By Erika Turner

Jacob Rees-Mogg now "running our country" Tory MP Anna Soubry claims

Jacob Rees-Mogg now

There is widespread opposition to Mrs May's Brexit plan, with twice as many Brits wanting a clean exit from the European Union than those who back her "soft Brexit" alternative, according to a poll out earlier this week.

If it were to happen, it would be a short-lived arrangement, focussed exclusively on Europe, with a new Prime Minister to take charge of the negotiations, and our only objective would be to get the best possible deal.

Frank Field, Kate Hoey, John Mann and Graham Stringer - (plus now suspended Kelvin Hopkins) joined the majority of Tories in the voting lobby to defeat the customs union amendment, "New Clause 18". Mr Hopkins is now suspended from the party over harassment claims.

The latest Betfair odds on Theresa May to resign by the end of the month are 12/1, and for her to throw in the towel by the end of the year are 6/4.

It was unclear whether they will actually press them to a vote after some pro-EU MPs backed Mrs May's Chequers plan and EU white paper.

Conservative International Trade Minister Liam Fox argued that the legislation will provide "stability and continuity" to companies until the United Kingdom can reach its own trade deals at the end of the 21-month transition period following Brexit, which will be enacted on March 29, 2019.

These are the Labour rebels who helped avert the defeat.

David Davis launched a staunch defence of Britain's Brexit negotiating hand amid bitter Tory infighting and claims the Government is "frightened" of Leave-backing MPs.

The Bank of England governor said that while our financial institutions would survive a disorderly exit, deals could dry up and households would be worse off.

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"Clearly people did not vote to leave the European Union for us still to be subject to their rules and laws in this way".

"If the PM can fix that vision once again before us then I believe she can deliver a great Brexit for Britain", he added. This includes financial services led by the City of London.

'We might have a lot of idle bankers as there is not a lot of demand for their services'.

But former transport minister Mr Hammond, who joined five other Tory backbenchers in tabling the amendment, insisted its provisions were "entirely in line" with Mrs May's Brexit White Paper. This would mean consumers would be potentially unable to make insurance claims and companies left without cover for big moves in currencies or borrowing costs.

The threat from the Brexiteers is not the only danger facing Mrs May, with pro-EU Tories tabling amendments of their own to the Customs Bill and the Trade Bill - which returns to the Commons on Tuesday - which would keep Britain in a customs union with the EU.

Tory MP Nadine Dorries said last night that the Labour rebels' actions had prevented another general election.

One minister said it was "extraordinary that we lost the vote that didn't matter and won the one that did".

Labor's Brexit spokesman Keir Starmer said: "It was a very significant defeat for the government tonight on European medicines regulation amendment and a near miss on customs union amendment".

In that time, the government would need to pass legislation to enable a referendum, the wording of the question would have to be agreed, and campaign rules would need to be thrashed out.

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