Parliament has tonight voted to reject the Government’s Brexit deal in a ‘meaningful vote’. Catherine McGuinness, Policy Chair at the City of London Corporation, said:

“The rejection of the Government’s deal tonight leaves British businesses facing continued economic uncertainty at a critical juncture.

“We are now staring down the precipice. Politicians of every hue must overcome their differences and make avoiding a no-deal Brexit the absolute priority, starting with the vote in Parliament tomorrow. The financial consequences of a no-deal Brexit are well versed and politicians must now act to prevent this from becoming a reality for businesses and households across the country.

“Extending Article 50 would be one way of avoiding the UK crashing out of the European Union without a deal but this would only be a sticking plaster unless the deep, underlying issues are resolved. Politicians must use any extension to work together as a matter of urgency to secure a deal, locking in a legally binding transition within the necessary timeframe.”

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