Bloomberg were out with the story earlier 12 Oct
Our resident bloodhound Eamonn posted the story here after being alerted by readers Enric and Alan.
Nothing on the BBC website that I can see which is strange given the amendment tabled by May was toward the end of yesterday's parliamentary session.
ITV News though have just tweeted this which quotes a govt source as saying:
"The Government is focused on delivering on Brexit. We have always been clear that while we should do nothing to undermine our negotiating position, Parliament has an important role to play, and this motion reflects that."
Labour's motion, which would not bind the Government to act on it if approved, reads:
"That this House recognises that leaving the EU is the defining issue facing the UK; believes that there should be a full and transparent debate on the Government's plan for leaving the EU; and calls on the Prime Minister to ensure that this House is able properly to scrutinise that plan for leaving the EU before Article 50 is invoked
May's amendment adds to Labour's motion "and believes that the process should be undertaken in such a way that respects the decision of the people of the UK when they voted to leave the EU on 23 June and does not undermine the negotiating position of the Government as negotiations are entered into which will take place after Article 50 has been triggered".
The effect of the amendment will mean that Tory MPs can vote with the Government while simultaneously backing Labour's call without voting for the Opposition motion on its own, if a division is called on Wednesday.
I'll dig out more and return to the development in subsequent posts.
Meanwhile GBPUSD currently 1.2292 from highs of 1.2325 triggered by the original story and we can expect the pound to have another lively day. At this point though the story does not change my overall bearish view on the UK ccy.
