City Corporation comments on potential Article 50 extension

The Prime Minister today said the House of Commons would be given a vote on whether to seek a possible extension to Article 50 if MPs reject the Government’s renegotiated deal and leaving the European Union without a deal next month.

Catherine McGuinness, Policy Chair at the City of London Corporation, said: “The fact that the Prime Minister has set out plans to request an extension of Article 50 if her renegotiated deal is rejected by MPs next month is welcome news.

“Politicians must ensure that the UK does not crash out of the European Union next month without a deal. This would be a hugely damaging outcome for consumers, households and businesses both in the UK and the EU.

“Any extension to Article 50 must not be a bridge to nowhere. Clarity is required on what a ‘short limited extension’ means in practice.

“A deal needs to be agreed by the Government, Parliament and the EU in order to enable City firms to plan for the future with confidence. Only then can we move on to the crucial next phase of negotiations on the future relationship between the UK and the EU.”

Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk