Brexit: All the latest updates

UK Prime Minister Theresa May’s political fate hangs in the balance after members of her Conservative Party brought forth a motion of no confidence on Wednesday. 

The United Kingdom is due to leave the European Union at 23:00 GMT on March 29, 2019, but many Britons have questioned May’s handling of the divorce from the EU.

Brexit, or British exit from the union of 28 states, was officially initiated last March by London following a divisive 2016 referendum across the kingdom.

May reached a withdrawal agreement with the EU this month, but she delayed a scheduled parliament vote on it this week as the accord was expected to fail to secure approval.

Here are all the latest updates:

Wednesday, December 12

European Parliament: Brexit deal ‘not open to renegotiation’

The European Parliament has issued a statement saying the Brexit deal brokered between British Prime Minister Theresa May and European Union officials is “not open to renegotiation”.

“The Withdrawal Agreement and Political Declaration are fair and balanced and represent, given EU principles, current UK red lines and the commitments set out in the Good Friday Agreement, the only deal possible to ensure an orderly withdrawal from the European Union,” the statement said.

The Conference reiterated that without a backstop Parliament would not give its consent to the Withdrawal Agreement … [and] its support for as close as possible future EU-UK relationship such that the deployment of the backstop would not be necessary,” it added.

The statement was drawn up by the parliament’s governing body, the Conference of Presidents, in coordination with its Brexit Steering Group.

Scottish leader criticises May’s party over Brexit ‘chaos’

Scottish First Minister Nicola Sturgeon said today’s move by Conservative members of parliament to trigger a vote of confidence on British Prime Minister Theresa May was a “stark reminder that the UK is facing chaos and crisis entirely because of a vicious civil war within the Tory party”.

“What a self-centred bunch they are. They all need to go, not just the PM,” she said in a Tweet.

Sturgeon’s Scottish National Party has called on the main opposition Labour Party to follow through with an earlier threat to table a parliamentary no-confidence motion against May.

Betting odds indicate May will win no-confidence vote

The betting odds have shifted sharply towards British Prime Minister Theresa May surviving a no-confidence vote on Wednesday after a leadership contest was called by legislators unhappy with her handling of Britain’s departure from the European Union.

The shift comes after a flurry of bets that she will win the vote and more than 158 Conservative Party MPs publicly backed the prime minister.

The likelihood that May will the win the vote has risen to 89 percent, according to bookmakers William Hill, Paddy Power and Ladbrokes.

Earlier in the day, William Hill said there was a 60 percent chance she will survive and Paddy Power gave odds of 71 percent.

“The money suggests that Theresa May will survive today’s vote,” said Rupert Adams, a William Hill spokesman. “But things remain bleak and we fully expect her to leave office in 2019.”

British PM May to face no-confidence vote

British Prime Minister Theresa May has vowed to fight for her political future with “everything I’ve got” as the UK’s bid to depart the European Union descends into a deepening political crisis.

Members of May’s ruling Conservative Party reached the threshold of 48 demands needed to trigger a confidence vote in her leadership.

If May loses, her successor would be chosen from existing Conservative MPs and would automatically become prime minister. 

But if she wins, she will be immune to further challenges for a year. The result is due around 21:00 GMT.

Embattled PM issues Brexit warning to party members

In a stark warning to Brexit-supporting opponents who instigated the challenge, May said if they toppled her then the EU exit would be delayed, perhaps even stopped.

A new leader would not have time to renegotiate a deal with the EU and secure parliamentary approval by the end of March, meaning the Article 50 withdrawal notice would have to be extended or rescinded, she said.

“A change of leadership in the Conservative Party now would put our country’s future at risk and create uncertainty when we can least afford it,” she said.

“Weeks spent tearing ourselves apart will only create more division just as we should be standing together to serve our country.”

According to the rules, May could be toppled if a simple majority of Conservative MPs vote against her. At least 153 of her 315 Conservative MPs had expressed public support for her by 12:55 GMT.

German government approves Brexit legislation

Germany’s cabinet has approved legislation to protect British residents’ rights in the country in the event of a no-deal Brexit and to make the country a more attractive location for banks seeking to relocate.

Brexit jargon: From backstop to no deal, 17 key terms explained

Chancellor Angela Merkel’s spokesman, Steffen Seibert, said ministers have approved a bill safeguarding the German health insurance, unemployment insurance and pension status of British citizens living in Germany and German citizens living in Britain at the time of Brexit.

Another German bill foresees loosening the requirement for banks to justify why they’re ending a contract with a highly paid employee deemed to be a “bearer of risk,” such as heads of department or high-volume traders.

Germany has much more restrictive rules on dismissing workers than Britain, which is seen as a disincentive for Britain-based banks to shift operations to Frankfurt.

British currency jumps as BBC forecasts May to win vote

The British pound jumped on Wednesday after the BBC reported that a majority of Conservative Party MPs were set to back Prime Minister May in a no-confidence vote.

At about 13:30 GMT, the pound advanced to $1.2579, having earlier hit a fresh 20-month low at $1.2478. The pound recovered to 90.18 pence versus the euro.

According to the BBC, May was set to win the vote with at least 158 Conservative MPs – more than 50 percent of those eligible – having pledged their support for the embattled premier.