The United Kingdom government, led by Theresa May suffered a massive blow from the High Court of the United Kingdom, which is likely to dismantle the current plan and add to the uncertainty. The court has ruled that the government would require the parliamentary vote to begin the process of leaving the European Union. This means that the government can’t pull the trigger on Article 50 without the consent of the parliament. This also means that there may not be a Brexit and this has also increased the possibility of a second referendum. The first one wasn’t a constitutionally binding one.
The remain-camp has cheered the decision of the court, while the Brexit backers have called foul. UK Independence Party (UKIP) leader Nigel Farage, who has been a prominent face of the Brexit camp, said that he fears a betrayal to the 52 percent of the voters, who backed Brexit. On the other hand, Labour leader Jeremy Corbyn has called upon the government to bring its negotiation terms to parliament without delay, which the government has refused as it doesn’t want to show its card before the negotiations.
The government will appeal the court’s decision, for which the hearing will be next month.
The pound is cheering the outcome and is currently trading at 1.246, up 1.3 percent for the day.
