‘Markets will TANK before Christmas!’ Shock Brexit threat could spark UK economic crisis

Monday, November 19, 2018
By Paul Martin

A TORY MP loyal to Prime Minister Theresa May has warned that hardline Brexiteers risk plunging the country into an economic crisis during the Christmas holiday season if they vote down the draft Brexit agreement.

Mon, Nov 19, 2018

Tory MP Alec Shelbrooke has claimed that Britain’s economy will suffer “economic turmoil” if Brexiteers carry through on their threats to vote down Prime Minister Theresa May’s EU agreement. Speaking to the BBC, Mr Shelbrooke tried to rally support for the embattled deal which could decide the future of Mrs May. This comes after furious Brexiteers like Jacob Rees-Mogg sent in letters calling for a no-confidence vote in the British leader.

Mr Shelbrooke outlined the economic crisis that awaits Britain if frustrated MPs try to bring down the Government.

He said: “What would happen if this deal is rejected? The markets are going to tank just before Christmas and send us into economic turmoil.

“We have a responsibility to the country, to families, to jobs. For all for the carping, I can’t see what alternatives are beyond no deal or another vote, both of which I don’t support.”

In a bid to secure the Prime Minister, the Confederation of British Industry (CBI) is expected to declare its support for the draft withdrawal agreement.

CBI president John Allan will announce his endorsement of the agreement during the body’s annual conference today.

He will describe it as “not perfect” but one that avoids the “wrecking ball” of a no-deal scenario and opens up “a route to a long-term trade arrangement”.

The CBI reached this conclusion after its policymaking committee canvassed the views of 900 business leaders across Britain and found unanimous support for the withdrawal agreement.

Jürgen Maier, the UK chief executive of German engineering giant Siemens, and Warren East, the chief executive of Rolls-Royce are among the high-profile corporate figures who have backed May’s draft agreement.

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