British MPs Back Measure To Block “No Deal” Brexit, by Tyler Durden.

In another stunning defeat for Theresa May and her senior cabinet, MPs on Tuesday backed a measure intended to thwart the possibility of a ‘no deal’ Brexit by attaching an amendment to a crucial Finance Bill that will effectively force the UK government to shut down if Article 50 isn’t suspended or Parliament doesn’t explicitly vote to approve a ‘no deal’ exit.

The so-called “Cooper amendment” to the finance bill was tabled by Labour’s Yvette Cooper and had become the focus of Brexit related drama since Parliament returned from its Christmas break this week. The vote passed 303-296 with the help of 20 Tory rebels.

In the wake of May’s latest defeat, her government has stood by its rhetoric, with Treasury Minister Robert Jenrick saying the “simple truth” remained that the UK would leave the EU on 29 March. All the amendment would do, he told MPs, would be to make the UK “somewhat less prepared” for Brexit. …

Labour Leader Jeremy Corbyn applauded Cooper for her efforts and heralded the vote as an important step toward preventing a no-deal Brexit.

This would appear to effectively scuttle any possibility of a “no-deal” Brexit. Maybe. The details are tricky, the reports unclear, and there are competing claims. Let’s see what happens.