Published

Brexit Returns to Limbo

The U.K. failed to complete its delayed plan to exit the European Union today, leaving the timing of a new deal unclear.
#labor #economics

Share

The U.K. failed to complete its delayed plan to exit the European Union today, leaving the timing of a new deal unclear.

Britain voted on Jun 2016 to leave the EU by April of this year. But the inability of Parliament to agree on the details triggered a delay to Aprll 12 and then to Oct. 31.

By July, the logjam had forced out Prime Minister Theresa May and replaced her with Boris Johnson. He pledged to take Britain out of the EU by today, even if it meant a “hard” exit with no new trade pacts in place.

Johnson and the EU declared two weeks ago they had reached a tentative deal for a softer Brexit. But political wrangling again stymied approval by Parliament.

Now Johnson is betting his job on the outcome of a Dec. 12 election and hopes that the vote will repopulate Parliament and give him the majority his Brexit plan needs.

If he wins the election, Johnson vows to take Britain out of the EU no matter what by the end of 2020. In the meantime, the lack of progress has hurt consumer confidence and pummeled the British auto industry by damping sales and drying up investment.

RELATED CONTENT

  • GM Unit Stresses Driver Training in Autonomous Cars

    General Motors Co.’s Cruise Automation unit says it puts backup drivers and auditors through extensive training before allowing them to participate in real-world autonomous vehicle tests. 

  • VW, the Future & the End of “Conventional” Jobs

    "In order to become a global provider of sustainable mobility, we are pressing ahead with future projects such as electromobility, digital connectivity and new mobility services, equipped with the necessary resolve and financing.”

  • Bentley Looking for Apprentices

    It is always encouraging to learn about the efforts of OEMs and suppliers that are running apprenticeship programs to help train the future of the industry.

Gardner Business Media - Strategic Business Solutions