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MNI US Macro Weekly: Politics To The Fore
BREXIT: Davis To Say Vote Against Bill Is Vote For Cliff Edge
By Tara Oakes
BRUSSELS (MNI) - The UK's Secretary of State for Exiting the European
Union, David Davis, will warn MPs this evening to vote for the so-called Repeal
Bill to avoid "a cliff edge of uncertainty".
"A vote against this Bill is a vote for a chaotic exit from the European
Union. The British people did not vote for confusion and neither should
Parliament," Davis is set to say ahead of the vote, expected around midnight
Monday.
"Providing certainty and stability in the lead up to our withdrawal is a
key priority. Businesses and individuals need reassurance that there will be no
unexpected changes to our laws after exit day and that is exactly what the
Repeal Bill provides," he will say in summing up.
"Without it, we would be approaching a cliff edge of uncertainty which is
not in the interest of anyone."
"That's why I'm urging all MPs of all parts of the UK to come together in
support of this crucial legislation so that we can leave the European Union safe
in the knowledge that we are ready for day one of exit."
The UK's opposition Labour party are set to vote against the bill, a bill
which is intended to ease the way for the post-Brexit legal framework by
incorporating all EU law onto Britain's statute book.
Those opposing warn that it hands over too much power to ministers.
However, Government whips expect a clear passage of tonight's vote, as
rebel Conservative MPs are expected to back the bill at this stage, although
threatening opposition 'line by line' at the 3rd reading and Committee stage.
--MNI Brussels Bureau; +44 203-865-3851; email: tara.oakes@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$B$$$,M$E$$$,MC$$$$,MI$$$$,MGB$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.