Expert Commentary

Brexit Minister Raab and Work and Pensions Minister McVey quit cabinet
Fri, 16 Nov 2018 13:50:49 GMT
Source: Dukascopy Bank SA
 
© Dukascopy Bank SA

On this Thursday, November 15th, The U.Ks Member of Parliament attended the Cabinet meeting on the Brexit Deal, after which the Brexit minister Dominic Raab and Work and Pensions Minister Esther McVey resigned. The reason for the resignation was not supporting the proposed EU terms on Brexit deal. Moreover, right after the official news from the Cabinet Meeting on the Brexit Deal the British Pound slumped by 246 pips or 1.89 per cent against the US Dollar.

Most of British people think that May's Brexit deal is horrible, as it will lock the country neither in the European Union nor entirely out of it. The U.K. would be forced to accept EU decisions over trade and other issues, but it would have no say in them. U.K. Prime Minister Theresa May announced that the Cabinet voted for the Brexit Deal, but the result of the positive outcome resulted in resignations of senior ministers and mutiny in her party! Lawmakers in her own party openly sought to challenge her leadership and bluntly told her that the Brexit Deal would not pass Parliament.

Theresa May would need to get the backing of about 320 of the Parliament's 650 lawmakers.

U.K. Prime Minister Theresa May tweeted: "I believe with every fibre of my being that the course I have set out is the right one for our country and all our people".


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