Free Trial

Foreign Sec To Address Conservative MPs On Brexit Deal Tuesday

EU-UK

Wires reporting that UK Foreign Secretary James Cleverly will address the 1922 Committee of backbench Conservative MPs on Tuesday 21 February regarding what is believed to be a deal reached/about to be reached between the EU and UK on the Northern Ireland protocol. The tenor of the address - whether about the details of a deal, or more broadly encouraging Conservative MPs to get on side with the gov't - will determine whether the address is seen as a positive sign or one of division in the ranks.

  • The gov'ts working majority stands at 70 seats, meaning 35 Conservatives could break ranks and vote against a deal and it would still pass (a tied vote would usually go in the gov'ts favour). The hard-line eurosceptic European Reform Group is believed to have around 30 committed members at present, who would likely side with the DUP and oppose a deal involving the ECJ in any capacity. As such, if just this group opposes an updated protocol, the gov't likely has the votes to pass it.
  • However, there has been speculation that allies of former PM Boris Johnson could also oppose a reworked protocol. While this number is more fluid, the Boris-ite cohort combined with the ERG would almost certainly have enough votes to defeat a reworked NI protocol.

To read the full story

Close

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.