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Brexit Series: Theresa May to face no-confidence vote today as MPs revolt over cancellation of deal voting

Many members of the House of Commons angered by Prime Minister Theresa May’s abrupt cancellation of the Brexit deal voting, where they felt a big defeat would teach her and her government a lesson and pose doubts on her leadership have called for a no-confidence motion against her leadership.

Sir Graham Brady, chairman of the Conservative Party’s influential 1922 Committee announced that MPs sent a wave new letters expressing their lack of confidence in Mrs. May’s leadership and upon receiving large numbers of letters, which passed that 15 percent threshold required to hold the no-confidence vote, a vote would be held in UK’s House of Commons on Wednesday evening between 18:00 and 20:00 GMT and the result would soon be announced after the voting, “ In accordance with the rules, a ballot will be held between 1800 and 2000 on Wednesday 12th December in committee room 14 of the House of Commons. The votes will be counted immediately afterwards and an announcement will be made a soon as possible in the evening. Arrangements for the announcement will be released later today.”

In a positive for the Prime Minister, the majority of her cabinet ministers have backed her publicly after the voting was announced, including prominent Brexiteer Michael Gove and Liam Fox.

The British pound slipped to 1.247 against the USD as news came out but recovered as many members came out publicly supporting the Prime Minister. Expect the pound to decline to as low as 1.23 against the USD, should she lose the confidence vote.

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