• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Brexit

Deal or No Deal: What to Look Out For on Yet Another Crucial Day for Brexit

By
Hallie Detrick
Hallie Detrick
Down Arrow Button Icon
By
Hallie Detrick
Hallie Detrick
Down Arrow Button Icon
January 29, 2019, 9:51 AM ET
Add Fortune on Google for similar content.

The terms of the U.K.’s exit from the EU remain as uncertain as ever just 60 days ahead of the country’s scheduled departure from the political and economic bloc of which it’s been a member for more than 40 years.

More than two and a half years since citizens of the U.K. voted to leave the EU — and following two years of torturous negotiations — the British government is still struggling to win approval for its Brexit deal from parliament.

Following a historic defeat of Theresa May’s “Plan A” in the House of Commons in early January, MPs are gathering Tuesday to debate and vote on a potential Plan B, as well as several amendments to it.

The hope is that by 9pm Tuesday Britain will finally have a cohesive plan that they can put forward to the EU. If this is considered workable by Brussels, it could then shape the direction of Brexit and the future relationship between Britain and its closest trading partners.

If it fails, however, there’s a very real chance that the U.K. Parliament will wrestle control of the Brexit process from Theresa May’s government, leading to further months of stalemate and potentially no Brexit at all.

The stakes for the EU, Britain, and May could not be greater. Here’s a rundown of the key figures and amendments to watch out for on a day that’s set to produce high political drama:

John Bercow

The speaker of the House of Commons is traditionally a neutral position in British politics, but the current speaker, John Bercow, has been criticized for playing a more activist role, especially when it comes to Brexit. Earlier this month, when Parliament first voted on Theresa May’s plan, Brexit supporters were furious that Bercow allowed an amendment to be tabled that would require May to present a Plan B within three days if her first plan failed. Critics said that was an unreasonably quick turn around that would favor parliamentary control of the debate.

Crucially, Bercow will determine which amendments MPs will debate and vote on Tuesday.

Deal or No Deal

Much of the hand-wringing in Parliament concerns the possibility that the U.K. could crash out of the EU with no deal—as in no plan—for the future. MPs who favor remaining in the EU—as well as some who favor Brexit—see this as a catastrophic option that could lead to doomsday scenarios like food shortages, troops on the street and a lack of essential medicines.

Many MPs, including opposition leader Jeremy Corbyn, have been trying to convince May to rule out a no deal Brexit, with Corbyn refusing to consult with her until she does so. Such is the febrile nature of British politics that this has, in turn, led to accusations that he’s held the country hostage to secure his ulterior motive of sparking a general election.

Despite this, Parliament will consider some amendments that rule out the possibility of a no deal Brexit. Their chances of success are minimal, however, as many MPs believe its essential to keep the threat of no deal on the table as a negotiating weapon.

Extendable Brexit

One of the most-watched amendments has been tabled by backbench Labour party MP Yvette Cooper. It would guarantee a vote in Parliament to extend Article 50—the clause of the European Union treaty that allows member countries to withdraw—for a period of three to nine months to allow more negotiating time. The vote would be triggered if May fails to reach an agreement with the EU by the end of February. In effect, this amendment would postpone the chances of a no deal Brexit. Initially, it looked like support for this amendment would be strong, but on Tuesday morning it appeared to be waning.

Under an EU Court ruling late last year, the U.K. government is also at liberty to unilaterally revoke Article 50, ending the Brexit process altogether. May has taken that option off the table, saying it would betray voters.

The Brady Bunch

May is putting her support behind the “Brady amendment,” a plan put forward by backbench Conservative MP Sir Graham Brady, which seeks to replace the ‘Irish backstop’ — essentially, an insurance policy against the return of a hard border between Northern Ireland and Eire — with “alternative arrangements”. If the Brady amendment is passed, it would mean that negotiations with the EU would have to be reopened. The wording of the amendment is also thought to have been kept deliberately vague to allow these negotiations to remain as open as possible.

The EU

All of the parliamentary debate and compromise over Brexit may be moot. The EU has stood firm on the positions it negotiated in good faith with the U.K. and has said that it will not renegotiate the withdrawal agreement as it stands.

So, while May hopes to reopen negotiations on how the U.K. leaves the bloc on March 29, the EU may very well refuse to make any amendments. The only choices for Britain then? No deal, or no Brexit.

About the Author
By Hallie Detrick
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
NewslettersCEO Daily
The Supreme Court’s birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
53 minutes ago
Microsoft CEO Satya Nadella on April 23, 2026 in Sydney, Australia. (Photo: George Chan/Getty Images)
NewslettersFortune Tech
Microsoft may cut thousands more jobs in a bid to control costs
By Andrew NuscaJuly 1, 2026
54 minutes ago
Current refi mortgage rates report for July 1, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for July 1, 2026
By Glen Luke FlanaganJuly 1, 2026
3 hours ago
Current ARM mortgage rates report for July 1, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for July 1, 2026
By Glen Luke FlanaganJuly 1, 2026
3 hours ago
Mortgage rates today, July 1, 2026
Personal Financemortgages
Mortgage rates today, July 1, 2026
By Glen Luke FlanaganJuly 1, 2026
3 hours ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big TechNvidia
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
3 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
AI
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
By Catherina GioinoJune 29, 2026
1 day ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
22 hours ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.