Businesses Must Continue To Prepare Despite Ongoing Uncertainty
The UK Government must act quickly to spell out what it intends to do in relation to Brexit following last night’s defeat on the ‘meaningful vote’ in the House of Commons, says law firm Irwin Mitchell.
Theresa May’s Brexit deal was rejected by 230 votes and according to the national law firm, the Prime Minister must explain what she will do next to provide some much-needed certainty.
The defeat now opens up a whole set of scenarios for Brexit which include Theresa May attempting to bring back the deal for a second vote in Parliament.
Since the ‘meaningful vote’, there has already been a no confidence motion tabled by the Labour party which will be debated today in Parliament. The possibilities of a so-called ‘people’s vote’ and a delay to the planned leave date of 29 March are other options that could also be on the table.
Expert Opinion“The number one priority amongst most businesses when it comes to Brexit is certainty and many organisations will be disappointed the deal was rejected because it offered an orderly exit will a lengthy transition period.
“It wasn’t a big surprise though that Theresa May lost her vote in Parliament and because of this, many will now expect that a workable plan B that avoids a no deal exit will be announced quickly.
“We are hoping for a quick resolution to the issue. We are also calling on businesses and individuals not to hold off from planning for the different outcomes that could develop over the coming weeks.”
Victoria Brackett - Group Chief Commercial Officer
Irwin Mitchell has prepared a Q&A document highlighting some of the answers to the most commonly asked legal questions on Brexit. This document can be downloaded here.