MPs vote to delay Brexit

MPs backed Theresa May’s plan to delay Britain’s scheduled exit date of March 29th by 412 votes to 202. The aim is to extend the deadline to at least June 30th, however if the deal already proposed by May is once again rejected by MPs next week, there could be longer extension to the deadline, possibly into 2020 or beyond, if May fails to convince the remaining 27 EU leaders that a longer extension is not a desired outcome. A longer extension to the deadline would mean prolonged uncertainty for the UK and is an outcome many are keen to avoid. Sterling remained stable after a volatile session, while UK equities continued to rise on the news.