Brexit news: Will there be a second Brexit referendum?

Posted on Nov 23 2018 - 1:31am by admin

Two and a half years have gone by since Britain voted to leave the European Union. But since the referendum, many Britons are still fighting for the nation to stay a member of the institution, calling for a second vote to take place. Prime Minister Theresa May has ruled out holding another referendum on the matter, but is facing resistance from a number of high-profile politicians, including Sadiq Khan and newly-resigned Jo Johnson.

Will there be a second Brexit referendum?

When Theresa May presented a draft of the Brexit deal agreed with EU negotiators, it did not calm as many nerves as she may have wished for.

In fact, since the draft agreement was presented the odds for a second referendum have gone sky high.

According to a chart published by HSBC economist Elizabeth Martins, the odds of the UK holding a second vote on Brexit shot up.

READ MORE: WHEN IS BREXIT HAPPENING? BREXIT TIMELINE LATEST

The chart showed the implied probability of a second referendum is now at 40 percent.

And according to bookies Ladbrokes, the odds for a second referendum before end of 2019 is now at 6/4.

Alex Apati of Ladbrokes said: “Odds of a second referendum are shortening by the day.

“It won’t be long until we go odds-on about exactly that scenario panning out.”

READ MORE: THERESA MAY TO QUIT? WHO WILL REPLACE THERESA MAY – WHO WILL BE NEXT PRIME MINISTER?

This comes as the prime minister was met with multiple resignation from senior ministers in her own cabinet.

Although the draft withdrawal agreement passed in cabinet, which by all means can be considered an important milestone, resignations were handed in as a result of the deal by Dominic Raab, Esther McVey, Suella Braverman, Jo Johnson, including others.

And the Brexit deal still has to go through several other votes before Mrs May can relax.

The governments of the 27 other EU member states all have to approve it as well as the British Parliament.

READ MORE: THERESA MAY VOTE OF NO CONFIDENCE – WHAT HAPPENS IN VOTE?

The parliament can prove a challenge for the prime minister as she is currently under fire from a large anti-EU wing of her own party.

Before the draft agreement was presented, a second referendum was mainly limited to those who wished to remain in the EU.

But with the resignation of Jo Johnson, there seem to be a wider support for a second vote.

In his resignation letter, Mr Johnson said: “Given that the reality of Brexit has turned out to be so far from what was once promised the democratic thing to do is to give the public the final say.”

And not to forget, more than 700,000 people recently marched the streets of London in support of a “People’s Vote”.

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