Update on Brexit from EY

Our deal outcome probabilities reflect yet another tumultuous month for Brexit, with the no-deal probability increasing since the last issue of Brexit Watch. The British Prime Minister promised to step down if MPs had approved her deal. Despite this, all 12 indicative votes were rejected by parliament and meaningful vote three failed to pass.

The British Labour Party, on the back of public demonstrations in the UK, have continued to call for any deal to be put to a vote by the British people. The rejection by MPs of the third meaningful vote and failure to reach a consensus on any alternative path forward signify that the UK could very well be heading towards a no-deal Brexit. Of course, businesses and small businesses in particular, continue in a state of limbo. With varying exit dates remaining in play, it is almost impossible to make any investment decisions or plan for the future.

Read our latest Brexit Update here.