Brexit: What on earth's going on?

Uncertainty has resulted in 2% less growth

Ed Smith, head of asset allocation research at Rathbones

Ed Smith, head of asset allocation research at Rathbones

Theresa May has asked the European Union (EU) for a delay in the UK's departure until 30 June, with EU officials indicating they would only grant an extension on the grounds of Parliament agreeing a deal.

Before making her direct televised appeal to the British public on Wednesday evening, May met with all opposition leaders, hoping to gather last-minute cross-party support for her deal. Jeremy Corbyn walked out after finding Chuka Umunna, a recent defector from the Labour Party and spokesman for the centrist Independent Group, had been invited. By refusing to ask for a longer extension in case her deal is rejected again, May has kept the possibility of a no-deal Brexit on 29 March alive. Should she fail to get the backing she needs, May would face a stark choice between a hard Brexit or ...

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