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May Drops Firm Plan for Withdrawal Bill Vote: Brexit Update

Published 05/23/2019, 06:26 AM
Updated 05/23/2019, 06:30 AM
&copy Bloomberg. LONDON, ENGLAND - MAY 22: British Prime Minister Theresa May leaves the House of Commons after the weekly PMQ's on May 22, 2019 in London, England. Mrs May is under increased pressure as she continues to try and get her Brexit withdrawal agreement through. (Photo by Dan Kitwood/Getty Images)

© Bloomberg. LONDON, ENGLAND - MAY 22: British Prime Minister Theresa May leaves the House of Commons after the weekly PMQ's on May 22, 2019 in London, England. Mrs May is under increased pressure as she continues to try and get her Brexit withdrawal agreement through. (Photo by Dan Kitwood/Getty Images)

(Bloomberg) -- Theresa May is on her way out -- the only question is when she’ll go -- and her party is bracing for a humiliating defeat in European elections on Thursday.

Key Developments:

  • Brexit bill isn’t listed for debate first week of June as planned
  • EU elections are under way. Results on Sunday night
  • Pound falls as investors brace for a hardline Brexiteer to succeed May

May Drops Plan for Vote on Brexit Bill (11:11 a.m.)

May’s key piece of Brexit legislation isn’t listed for debate in the first week of June, as had been planned.

The Leader of the House of Commons’ Twitter feed published the order of business for the first week back after the recess and the Brexit bill isn’t on it.

However, there’s still a plan to publish the bill in the week of June, government whip Mark Spencer told Parliament. May is discussing the text of the legislation with ministers, her spokesman told reporters on Thursday.

May had said it would go to a vote the first week of June, and after that ballot she would set out a timetable for her departure and the leadership race to replace her.

Duncan Smith Sees Her Replaced By Summer (10:20 a.m.)

Iain Duncan Smith, a Brexiteer and former Tory leader, said May’s successor could be in place before U.K. Parliament closes for its summer break - usually at the end of July.

“Politics is a nasty sometimes brutal, ghastly business... she has no confidence, not just within her party but in the cabinet too,” Duncan Smith told TalkRadio. “The best thing is to break away and find a new leader, someone who campaigned for Brexit and believes in Brexit in any form.”

There’s been a lot of speculation about when the new leader could be in place as the process for the leadership race takes a couple of months. The first step is for the parliamentary party to have bi-weekly ballots to whittle down the list of candidates to two. Then the final two go the 120,000 members to choose the winner.

When Will She Go? (9 a.m.)

The Times and Daily Mail report she could go on Friday, but that’s not confirmed and May’s office isn’t commenting. The election results aren’t published until Sunday night.

Another consideration is that May has agreed to meet the panel of rank-and-file lawmakers on Friday. They may decide to act then -- though so far they’ve shown reluctance to put the boot in.

Earlier:

May’s Premiership Hangs by Thread as Leadsom Quits Over Brexit Brexit Bulletin: Hanging By a ThreadBrexit Spooks Tech Giants Away From London, Hibernia CEO Says

© Bloomberg. LONDON, ENGLAND - MAY 22: British Prime Minister Theresa May leaves the House of Commons after the weekly PMQ's on May 22, 2019 in London, England. Mrs May is under increased pressure as she continues to try and get her Brexit withdrawal agreement through. (Photo by Dan Kitwood/Getty Images)

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