UK PM May to hold parliamentary Brexit vote on Jan 15: BBC, Latest Business News - The New Paper

UK PM May to hold parliamentary Brexit vote on Jan 15: BBC

This article is more than 12 months old

LONDON: UK Prime Minister Theresa May will hold a parliamentary vote on Brexit on Jan 15, the BBC reported yesterday, citing government sources.

Mrs May was forced to pull the vote on her deal last month after she said it would be defeated by a large majority. The government had previously said the vote would be held in the week of Jan 14.

In a separate development, assets worth nearly £800 billion (S$1 trillion) are being moved from Britain to new financial hubs in the European Union ahead of Brexit, consultancy EY said yesterday.

Britain, due to leave the bloc in March, has yet to approve a deal to avoid an abrupt severing of ties with the EU.

EY has been tracking the Brexit plans of 222 financial firms since Britain voted in June 2016 to leave the EU. In its latest update, it said that 80 firms are considering or have confirmed relocating assets and staff.

Frankfurt Main Finance, which promotes the German financial centre, has said it expects 750 billion euros (S$1.2 trillion) to 800 billion euros of assets to transfer there alone. - REUTERS