BRITAIN’S MAY FACES CRUCIAL BREXIT PHASE
LONDON: British Prime Minister Theresa May on Monday tried to overcome internal jolts of two cabinet ministers leaving last week by focusing on crunch issues of leaving the EU, even as the pound took a beating by Brexit-related developments.
Britain is due to leave the EU on March 29, 2019, as laid out in the exit schedule in Article 50 of the Lisbon Treaty. The deadline has added urgency to British and European business leaders, given the existing close arrangements and the need to plan ahead. Rupturing those ties has major implications, but despite several talks in Brussels, business is no wiser yet on life after Brexit.
Over 900 Indian companies are based in Britain, many of whom use the base to access the European market. Sources told HT that only a small number are major players, who have already put in place contingency plans.
Hobbled by a lack of majority, the government faces uncertainty in the House of Commons on a crucial EU withdrawal bill, with opposition and ruling party MPS tabling a large number of amendments.