U.K. Parliament Moves Closer to Stopping a No-Deal Brexit

Labour’s McDonnell says party likely to back Cooper delay plan
Yvette Cooper aims to extend Brexit deadline if no deal struck

George Osborne, editor of London Evening Standard and former chancellor, discusses a possible no-deal Brexit.(Source: "Bloomberg Surveillance," Bloomberg)

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By Tim Ross

January 22, 2019 at 11:28 PM UTC

Updated on

January 23, 2019 at 5:00 AM UTC

This article is for subscribers only.

The U.K. Parliament is moving closer to a plan to delay Brexit in order to stop the country dropping out of the European Union with no deal and avoid the risk of an economically damaging divorce.

The main opposition Labour Party is now increasingly likely to support a proposal to extend the March 29 exit day deadline, if Prime Minister Theresa May fails to negotiate a divorce agreement, said John McDonnell, the party’s chief finance spokesman.