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Majority of brokers don't believe May can 'broker a Brexit deal'

Additionally, 62% of brokers would not have voted for Theresa May’s original Brexit deal.

Rozi Jones
|
7th February 2019
Theresa May
"With less than two months until the UK must leave the EU under Article 50, it looks like Brexit negotiations are going to go down to the wire."

57% of brokers don’t believe Theresa May can agree a Brexit deal acceptable to parliament by March 29th, according to a new poll from United Trust Bank.

Just 31% believe a deal can be agreed on both sides of the Channel by the end of March, unless an extension to Article 50 is agreed instead.

Furthermore, 62% of brokers would not have voted for Theresa May’s original Brexit deal which included the Northern Ireland ‘backstop’.

Although it appears there would now be a sufficient majority in the House of Commons in favour of the current withdrawal agreement with changes to the backstop, European Council President Donald Tusk has said that the entire withdrawal agreement, including the backstop, is not open for renegotiation.

Harley Kagan, group managing director at United Trust Bank, commented: “With less than two months until the UK must leave the EU under Article 50, it looks like Brexit negotiations are going to go down to the wire. Parliament has rejected the Northern Ireland backstop as it stands, and the 26 other EU member states are standing firm with the Republic Ireland of Ireland which insists there’s no other alternative. One side will have to concede some ground or risk a ‘no-deal’ Brexit, which all sides appear to agree would be the worst outcome for everyone.

“On a more positive note, UTB has had a busy start to the year indicating that many businesses are carrying on regardless. It’s worth remembering that a majority do not have a trading relationship outside of the UK. And although parts of the UK have seen a cooling of activity in the residential property market, there are areas experiencing a strong demand. The UK’s housing shortage will not disappear overnight."

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