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What to Watch: Theresa May's leadership challenge, pound rises, stocks surge

13 December 2018, 01:01 | Vera Richards

Here's Something Theresa May Probably Didn't Think About Before Cancelling Today's Brexit Vote

039;I don't expect an immediate breakthrough but what I do hope is that we can start to work as quickly as possible on the assurances that are necessary,' British Prime Minister Theresa May said

Graham Brady, who heads a committee overseeing Conservative leadership contests, announced early on Wednesday (Thursday NZT) that he had received letters from at least 48 lawmakers asking for a vote.

She said that ousting her and holding a leadership vote - a process that could take weeks - could result in Brexit being delayed or even halted.

The news comes after months of criticism directed at Mrs May over draft Brexit deal and her handling of negotiations. May's victory was far too narrow and she should resign.

She's in this position, her critics say, because of the choices and missteps she has made.

Hours before her lawmakers were due to decide her fate, May said she would fight for her job with everything she had.

If she does not, this would kick off a party leadership contest, which could take months. May as a lame duck prime minister.

Many MPs and party members are supportive of a second European Union poll, indeed, recently John McDonnell, the Shadow Chancellor, recently suggested that if Labour could not secure a general election, then a People's Vote would "inevitably" follow.

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Asked which fight Wilder would prefer - Joshua or Fury - the 33-year-old replied: "I would love to go for the other titles". It was a great fight, so let's do it again. "That's what we proved tonight, and I'm ready to do it again".

But with more than a third of Conservative MPs refusing to support her and a civil war raging over Brexit, the outcome still underlines the scale of the problems she faces.

"Her opening remarks were 'I am not going to hold a snap election", Mr Shelbrooke said. "But the word "intention" is a classic politician's word, because intentions can change".

What happens to the Brexit process now, as Prime Minister Theresa May fights a challenge to her leadership?

She spent Tuesday criss-crossing Europe on a whistle-stop diplomatic tour, aimed at seeking fresh reassurances from her European Union counterparts on the Irish backstop.

Meanwhile, a lecturer in British politics at the University of York has claimed the decision by Brexiteers to trigger a leadership contest at this time does not make sense, even if they win it.

A ballot this between 6pm and 8pm this evening will now determine her fate as leader.

One cabinet minister said that the PM had tried to reassure MPs that she would not do anything to break faith with the DUP. Foster later said: "We emphasised that tinkering around the edges would not work. In the national interest, she must go". The ship is almost into port, why drop the pilot now. I would urge all colleagues to get behind her, give her their full support. "People referenced her stamina, frankly".

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The ballot has opened for MPs to start voting on Theresa May's leadership.

In a statement outside No. 10 Downing Street before the vote, Ms.

Immediate statements of loyalty for the prime minister were issued by every member of her cabinet, including several who have been touted as possible successors.

Mrs May was buoyed by cheers from her own backbenches in a raucous House of Commons as she stood up for what could be her final session of Prime Minister's Questions.

May needs 158 votes to win - and if she does, there can't be another challenge for a year. "We were promised strong and stable".

"If the ERG (European Research Group of MPs) ends up being strengthened we are more likely to see a no deal Brexit, which really would be a nightmare". "But this Prime Minister can not even do her own job because of the Tory civil war", he said.

Suffolk Coastal MP Therese Coffey said: "I will be supporting Theresa May to continue as leader of the Conservative Party and Prime Minister in today's vote". But our party will rightly not tolerate it.

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