Economics
Postponing Brexit Would Be Worse for U.K. Economy Than May’s Deal
- Pound has been bolstered by prospects of extending deadline
- Still leaves households, businesses in state of uncertainty
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The prospect of a delayed Brexit may be pushing up the pound, but it’s not the best news for the U.K. economy.
Sterling has rallied above $1.30 this week amid increasing signs of support from lawmakers across Parliament for extending the negotiating period set to expire on March 29. While that would remove the imminent possibility of a chaotic no-deal scenario, it would leave the U.K. worse off than if Parliament accepted Prime Minister Theresa May’s current plan, according to economists.