UK Parliament narrowly rejects a Labour,Lib Dem and Green backed motion to rule out Parliament approving a crash out Brexit: vote is 309 against 298 for.

Held in the middle of a Tory leadership race that will choose the next prime minister the vote will probably cheer up Boris Johnson and other Tory leadership candidates who insist that Britain leave by October 31st deal or no deal. A major business group in Britain, the CBI has warned that such a crash out would do enormous harm to many large employers in the commercial and manufacturing sector costing thousands of jobs, as well as harming relations with the EU member states. Nevertheless Johnson and others who claim to be prudent conservatives continue to proclaim the wisdom of, if necessary, leaving without a deal and reopening the financial settlement by refusing to pay what they have agreed  to the EU upon departure, insisting on a better deal. The EU is probably not surprised but they are bound to be very unhappy with Johnson‘s rhetoric.The vote in Parliament was very close if six members had switched to the for position it would have won. There are more than that number of anti Brexit Tories who for the moment didn’t support the no crash-out motion but as the deadline draws closer  they are more likely to .Labour leaders promise to present further similar motions in the near future or move a motion of non confidence in whoever is chosen PM which looks likely to be a no dealer.

About haroldchorneyeconomist

I am Professor of political economy at Concordia university in Montréal, Québec, Canada. I received my B.A.Hons (econ.&poli sci) from the University of Manitoba. I also completed my M.A. degree in economics there. Went on to spend two years at the London School of Economics as a Ph.D. student in economics and then completed my Ph.D. in political economy at the University of Toronto. Was named a John W.Dafoe fellow, a CMHC fellow and a Canada Council fellow. I also was named a Woodrow Wilson fellow in 1968 after completing my first class honours undergraduate degree. Worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. I also have worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. I have also been consulted by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. Members of the Government of France under the Presidency of Francois Mitterand discussed my work on public sector deficits. I have also run for elected office at the municipal level. I first began to write about quantitative easing as a useful policy option during the early 1980s.
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