trending Market Intelligence /marketintelligence/en/news-insights/trending/UBXyN9ggWRHUwUKRrRkZcQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Vote on a 2nd Brexit referendum fails as Trump calls it 'unfair'

Essential Energy Insights July 2020 - Issue 2

As COVID-19 Wears On, Regulators Examine Moratorium Extensions, Cost Recovery

Q&A Credit Risk Perspectives Series: COVID-19 Credit Risks and Recovery for Supply Chains

Assessing ESG Profiles And Returns Against The Broader High-Yield Sector

Vote on a 2nd Brexit referendum fails as Trump calls it 'unfair'

A proposal to hold a second Brexit referendum was voted down in Parliament, as members of Parliament who support the U.K. remaining in the European Union decided not to back the amendment because they felt it would jeopardize the chances of such a motion succeeding in the future.

U.S. President Donald Trump said, ahead of a meeting with Irish Prime Minister Leo Varadkar in Washington, that he did not think a second Brexit referendum would be "possible" as it would be "unfair to people who have won."

In comments that are likely to add to Prime Minister Theresa May's woes, he also said: "I'm surprised at how badly it has all gone from a standpoint of negotiations, but I gave the prime minister my ideas of how to negotiate it. She didn't listen to that, and that's fine, but it could have been negotiated in a different manner."

His comments came as the House of Commons began another series of votes related to Brexit. MPs had the chance to vote on whether they would support a second referendum, in addition to the main vote on whether to delay Brexit, which is currently scheduled for March 29.

The vote on a second referendum came as a result of an amendment brought by MP Sarah Wollaston, who quit the ruling Conservative party over Brexit to join an independent group of MPs, most of whom oppose Brexit.

MPs voted 334-85 to reject the amendment calling for a second referendum. MPs also voted 314-311 to reject an amendment that would have meant any delay to Article 50 — the legal process for leaving the EU — would only be until June 30. Most crucially, an amendment that would have allowed MPs to take control of the Brexit process from Prime Minister Theresa May was defeated 314-312. Finally, MPs voted 412-202 in favor of extending Article 50.

Labour opposed

Labour, the official opposition party in the House of Commons, said it would not support the move to call for a new referendum. Its main Brexit spokesman, Keir Starmer, said, "Today is about a different issue."

Conservative MPs who want the U.K. to remain in the EU also indicated they would not back the Wollaston amendment. Without the official backing of either Labour or Conservative Remain supporters, the amendment is unlikely to pass. The main campaigning group for a second referendum, the People’s Vote group, also said it does not want MPs to support the Wollaston amendment and advised them to abstain: "We do not think today is the right time to test the will of the House on the case for a new public vote. Instead, this is the time for Parliament to declare it wants an extension of Article 50 so that, after two-and-a-half years of vexed negotiations, our political leaders can finally decide on what Brexit means," it said in a statement.

Labour MP and People’s Vote supporter Dr. Rosena Allin-Khan said on Twitter: "I’m a proud supporter of a People’s Vote and will do everything I can to make it happen — but tonight’s amendment won’t work — it’ll ruin our chances of success."

Meanwhile, the Institute of Directors, or IoD, which represents company directors and senior business leaders, has reiterated that businesses were desperate for certainty.

"Theresa May’s deal is not perfect but it does provide a transition period, and we want to see a withdrawal deal get across the line," said a spokesman for the IoD. The business lobby group, along with the Confederation of British Industry, British Chambers of Commerce, Federation of Small Business and the manufacturing body EEF, have all backed the government’s deal. The group has said previously that business is "watching in horror" at the chaos in Parliament as Brexit approaches.

The IoD’s latest survey of 1,200 business leaders showed that nearly 80% of company directors rejected the option of leaving the EU without a deal and 45% of its members supported a second referendum to break the deadlock. Nearly three-quarters, 72%, said having a withdrawal agreement in place was important to business.