May vows to stick to Brexit deal as rebels seek to oust her

British Prime Minister Theresa May vowed to stick to her draft European Union divorce deal on Monday as dissenting legislators in her own party tried to trigger a leadership challenge.

Since striking a deal with the EU on Tuesday last week, May has faced the most perilous crisis of her premiership with several ministers resigning, including the Brexit minister.

May has pledged to fight on, warning that toppling her risks delaying Britain’s exit from the EU or leaving without a deal, a step that could thrust the world’s fifth-largest economy into the unknown.

“We have in view a deal that will work for the UK and, let no-one be in any doubt, I am determined to deliver it,” May said in a speech to Britain’s premier business lobby, the CBI, to loud applause.

“We are not talking about political theory – but the reality of people’s lives and livelihoods.

“While the world is changing fast, our geography is not: Europe will always be our most proximate goods market, and ensuring we have free-flowing borders is crucial,” May said, citing the importance of the automotive industry.

The EU is due to hold a summit to discuss the draft deal on November 25.

Some Brexit-supporting ministers are reported to want to rewrite parts of it, though Germany has ruled this out.

The EU’s Brexit negotiator, Michel Barnier, said the draft deal was fair and balanced.

May said she wanted any Brexit transition, during which Britain will remain a member in all but name, to have ended by the time of the next nation- al election, due in 2022. Sterling fell after May spoke. More than two years after the UK voted to leave the EU, it is still unclear how, on what terms or even if it will leave as planned on March 29 2019.

Many business chiefs and investors fear politics could scupper an agreement, thrusting the economy into a no-deal Brexit that they say would weaken the West, spook financial markets and silt up the arteries of trade.

CBI president John Allan said such a Brexit would be a wrecking ball for Britain’s economy.

Meanwhile, Conservative Party rebels who say the deal will leave Britain in indefinite subjugation to the EU are attempting to trigger a vote of no confidence in May’s leadership.

May’s biggest challenge will be getting the deal through parliament. –