Theresa May By Kuhlmann-MSC (CC-BY-3.0-DE)

Image by Kuhlmann-MSC (CC-BY-3.0-DE)

There you have it! The Prime Minister of the UK, Theresa May, is now attempting to remove the no deal Brexit option from the table.

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Theresa May has now shown her true colours. And they are blue with gold stars.

The BBC is reporting that she is writing to the EU to ask for an extension to the Article 50 process until the end of June.

This comes after a cabinet meeting this morning where there was, according to the BBC political editor Laura Kuenssberg, no agreement around the table on how long that extension should be for, nor on what reason that could be given for asking for one.

The BBC also reports that one source "expressed frustration that the prime minister did not make a clear indication of the option she would actually argue for".

And Kuenssberg Tweeted out that the Leader of the House of Commons tore into her colleagues calling them a Remain cabinet while arguing for leaving without a deal at the end of June.

It doesn't matter what May does now, her deal is toast and the EU will not be offering her any more assurances. They will stand firm in the face of her weakness.

In fact I wouldn't be surprised if they only gave her one option – that they would extend Article 50 for one purpose only and that is to give her time to legislate for reversing Brexit entirely, if that's what MPs voted to do within the next week.

And if I were Juncker, Tusk and Verhofstadt I would now be rubbing my hands with glee as I added in the caveats that there must also be firm assurances on timescales for joining the Schengen Zone and the Eurozone as well as giving up any rebate.

EU coastal states will now be queueing up to put in claims against our fishing grounds and Spain will insist on a deal over Gibraltar.

Yesterday at the dispatch box, the Brexit secretary Stephen Barclay said that we would be waiting to see what was said at the EU Council summit this coming Thursday and Friday before making a decision.

Well, our PM has just blown a hole in that strategy. She's also blown a hole in her own government strategy of keeping no-deal on the table, as the EU now knows May will not allow it to happen.

This is being touted as a constitutional crisis. But it is not really and never was a constitutional crisis.

It is a crisis of confidence. A crisis of confidence of the people who put themselves up as national leaders who not only have no faith or belief or confidence in the people of the country they lead, but also a total lack of confidence in their own ability to lead a fully independent and sovereign nation state.

The government is also signalling that they have no confidence in the work our civil service has done to prepare for a WTO Brexit.

The Conservative party has now officially gone from Iron Lady to Jelly Baby.

But the fact she is writing to ask for an extension does not make it so. It is not a foregone conclusion. But what has happened is that the initiative has now been given by Mrs May to the Eurocrats in totality.

But getting all EU27 member states to agree to an extension without a clear purpose to it may not be easy. They will each be asking, what's in it for me?

Then there's the issue that Brexiteers have been asking some EU27 nation state leaders to veto any extension.

And as I've said before, if the EU Commission wants the extension too, then some of those EU27 may be tempted to put the thumbscrews on them as well to see what extras they can get out of the EU system. Especially the southern EU states who are suffering variously from EU impositions at the moment.

All that Theresa May has done is increase all the uncertainty. We've gone from the certainty of leaving at 11 pm on the 29th March 2019 to absolute total uncertainty – May driven chaos looms.

But until that extension is properly and legally agreed by both sides, the default position of our leaving on WTO terms at 11 pm on the 29th March still stands.

And now for the good news, 'Despite Brexit' slot.

The Office for National Statistics reports that the UK employment rate is higher than at the same time as last year and is actually at its highest ever level of 76.1%.

And the unemployment rate of 3.9% has not been lower since the three month of November 1974 to January 1975.

And rate of economic inactivity is 20.7%, which is the lowest on record.

And on Sterling, it was reported that the pound took a tumble after John Bercow effectively pulled the teeth from Theresa May's Withdrawal Agreement yesterday, but it has recovered a little since. Sterling, at 1.169 Euros to the pound, is still up on the Euro compared with a month ago and higher than the same time last year.

And here's a big point to note, the pound has not made any gains on the day against the euro since the news that Theresa May is asking for an extension to Article 50!

I also wonder what happened to all the job losses, wage crunches and the hyperinflation we were meant to be suffering from by now after having the temerity to vote to leave the EU?

So, please let us all know what you think by leaving a comment below.

Thank you for watching.

Sources:

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/employmentintheuk/march2019

https://news.sky.com/story/theresa-may-believes-uk-in-crisis-over-brexit-says-downing-street-11670218

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