JP Morgan predicts Brexit deal to be agreed in coming days - but parliamentary approval won't come until 2019

 
Sebastian McCarthy
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Cabinet Office minister David Lidington said he believed the government could secure a majority in parliament to ratify a deal (Source: Getty)

Banking heavyweight JP Morgan revealed today that it believes a transitional Brexit deal is likely to be signed between Britain and the EU within the coming days.


JP Morgan economist Malcolm Barr said in a note to clients: “Agreement in time for a November 17-18 summit appears to remain possible even if odds are slightly against it with dates later in November being suggested.”

Barr added: “We continue to think it likely that the Commons (UK lower house of parliament) will not give its assent to the agreement on the first attempt (in late November or early December), but... assent will be attained at a second or later attempt (in early to mid-January).”

The news comes on the same day as one cabinet office minister David Lidington said he believed the government could secure a Brexit withdrawal agreement with the European Union in the coming weeks and secure a majority in parliament to ratify it.

Such comments fly in the face of recent remarks made by the DUP's Brexit spokesperson, who said this morning that Theresa May's planned Brexit deal would be rejected by MPs in the House of Commons.


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