UK Supreme Court Rules Parliament Must Approve Brexit: Too Late to Matter

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Published : January 24th, 2017
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Category : Opinions and Analysis

In a move best described as too late to matter, U.K. Supreme Court Rules Theresa May Must Consult Parliament Before Starting Brexit.

24hGold - UK Supreme Court Rul...

Britain’s Supreme Court ruled Prime Minister Theresa May must seek approval from Parliament before formally triggering the country’s withdrawal from the European Union, potentially complicating her path out of the bloc.

David Davis, the minister overseeing Brexit, said the government would send legislation to Parliament within days. “There can be no going back,” Mr. Davis said.

Labour leader Jeremy Corbyn pledged not to frustrate the Brexit process, but said his party would seek to ensure Britain’s “full, tariff-free access to the single market” and prevent the government from turning the country “into a bargain basement tax haven off the coast of Europe.”

The court said Mrs. May needs parliamentary consent because EU law is embedded into U.K. law and therefore can’t be revoked without lawmakers’ approval.

But it also ruled that Mrs. May didn’t need to consult with the regional governments in Scotland, Wales and Northern Ireland before triggering Article 50, weakening their influence over the process.

Labour Frustrations

The ruling was widely expected, and the opposition Labour Party has resigned to accept it. Liberal Democrats and Scottish representative will likely load the bill with amendments, but those amendments will not survive.

Corbin’s pledge to prevent the government from turning the country “into a bargain basement tax haven off the coast of Europe” is a promise he is not in a position to make.

And his pledge of “full, tariff-free access to the single market” is not logically possible.

“Project fear” overplayed its hand. Many, if not most of Labour, is now committed to Brexit to the dismay of Scotland and the Liberal Democrats.

Prime minister Theresa May is fully in charge, and committed to Brexit.

Mike “Mish” Shedlock

Source : mishtalk.com
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Mish 13 abonnés
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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