British PM turns to Brexit 'Plan B'

theresa_may_brexit UK Prime Minister Theresa May | Wikimedia Commons

Britain has signed the divorce papers, but not all are happy with terms of transference. And so, Prime Minister Theresa May unveils her Brexit "Plan B" to parliament on Monday. Unless MPs can force a delay or get their act together in time and come up with a plan that Brussels is also happy with, Britain will have to leave EU without a deal.

Debate over the deal has been cause for political logjam in the British cabinet for a long time. The world's fifth-biggest economy could lose preferential access to its largest export market overnight, affecting every sector, leading to rising costs and disruption at British ports.

MPs in the lower house of the Parliament rejected the agreement London and Brussels came to, after two years of negotiations. May's government then survived a confidence vote on Wednesday and set about talks with figures from rival parties.

But the main opposition leader Jeremy Corbyn stayed away, saying a "no-deal" departure must be ruled out first — something May says is impossible.

May spoke to Dutch Prime Minister Mark Rutte and German Chancellor Angela Merkel on Thursday, and to EU leaders Jean-Claude Juncker and Donald Tusk by telephone Friday to discuss where to go next on Brexit.

EU chiefs have so far ruled out renegotiating the agreement, but have signalled they could postpone the withdrawal if May changes her "red lines" on leaving the EU's customs union and blocking free movement of citizens.

Another referendum could be a way out of the political impasse, but it will not be an easy process. MPs could consider dispensing with normal practice and speed things up.

If not, the safest bet would be to agree to retain the single market customs union and allow free passage; given some in Britain are campaigning to stay back in EU for these very reasons. There is a fear that the exit will affect traders adversely.