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.

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.