Pound pops as May secures 'legally binding changes' to Brexit deal
Updated : 07:48
Theresa May “secured legally binding changes” to her Brexit deal during a hastily arranged trip to meet European Commission president Jean-Claude Juncker in Strasbourg on Monday night.
The Prime Minister said that UK's position was that it now believes it could unilaterally withdraw from the backstop if negotiations with the EU on the future relationship break down.
Earlier, Cabinet Office minister David Lidington said that the government had “secured legally binding changes that strengthen and improve the withdrawal agreement and the political declaration”.
The joint instrument, the government's motion explains, “reduces the risk” of UK being held in a backstop arrangement on the Irish border indefinitely and commits to both sides working together to find a replacement by December 2020.
This “improved deal”, Lidington said, is what MPs will decide on at the meaningful vote on Tuesday, which he added would be the “only deal” on offer.
— Paul Waugh (@paulwaugh) March 11, 2019
Attorney General Geoffrey Cox will publish his legal opinion "in good time" before the debate, Lidington said. This will need to be before 1030 GMT, which is the deadline for MPs to submit amendments for the meaningful vote.
Labour's shadow Brexit minister, Kier Starmer, dismissed the "improved deal" as just restating the joint letter from Donald Tusk and Juncker to May from January.
Tory MP: “I’m afraid Keir Starmer asked the killer question. Is there a single phrase of the withdrawal agreement different from what was agreed in November? The answer is no.”
— Alex Wickham (@alexwickham) March 11, 2019
MP Steve Baker, chair of the hard-Brexit backing European Research Group, told Sky News he was "not very optimistic at the moment", while fellow Eurosceptic Jacob Rees-Mogg said it was "a move in the right direction".
Sterling surged almost 1% to 1.3289 as Lidington spoke but came off that level in the following hour. Not long before 0800 GMT on Tuesday morning it was at 1.3229.
In a press conference with May, Juncker said "it is this deal or Brexit may not happen at all", adding that Irish premier Leo Varadkar was willing to accept the "legal instrument" to clarify the backstop in order to get a deal done.
Our agreement provides meaningful clarifications & legal guarantees to the Withdrawal Agreement & #backstop. The choice is clear: it is this deal, or #Brexit may not happen at all. Let’s bring the UK’s withdrawal to an orderly end. We owe it to history. https://t.co/lfy9eehEZi pic.twitter.com/XCqcLwZV7V
— Jean-Claude Juncker (@JunckerEU) March 11, 2019