British PM Boris Johnson announced a deal has been reached with the EU regarding the UK’s formal withdrawal from the European Union, but will it make it through Parliament? Highly unlikely, as the majority of British MPs prefer the Remain option and will do everything they can to sabotage any attempt to leave the bloc. In addition the SNP and the Lib Dems are using Brexit as a tool to further their own agendas, so they will never vote for any deal, full stop – or backstop.
Insurance Edge has never believed that the EU will allow the UK to leave, as there is too much money at stake for Brussels, plus large corporations prefer the certaintly of a single legal framework, customs duties and trade rules. For the record, here’s the ABI reaction to the news;
Huw Evans, Director General of the Association of British Insurers, said:
“This agreement is a positive sign, but the key test is whether Parliament will vote for it. It is important that however we leave the EU, we do so in an orderly way that provides certainty for business, consumers and our world-leading insurance and long-term savings industry. Then we can move on to the important question of what a constructive future relationship with the EU looks like, that avoids the UK becoming a permanent rule-taker.”