Returning from her summer holidays in the Swiss Alps, UK Prime Minister Theresa May has again reiterated to her cabinet that ‘Brexit means Brexit’.
Facing growing scepticism regarding the Conservative Party’s ability to negotiate a successful withdrawal from the European Union, May and her cabinet are expected to present the public with an initial Brexit update.
The Conservative Party has yet to trigger ‘Article 50’, the formal mechanism for a member state’s decision to leave the union. Once triggered the UK government will then be granted two years in which to negotiate terms and conditions for its EU withdrawal.
Since the Brexit outcome on the 23 June, news sources and political commentators have wildly speculated the date in which the UK will formally begin its EU exit negotiations.
Updating its ‘Brexit Date’ market, William Hill believes the UK’s European Union withdrawal will likely become official during 2019 – and they have made that year their Even money (50% chance) favourite for when it does happen.
At present, the bookmaker offers 7/2 that it will happen in or before 2018, and 6/4 that it does not happen before 2020. Graham Sharpe Political Spokesperson for William Hill commented on the market ‘Theresa May seems set on making Brexit happen as soon as she can, but allowing for inevitable delays along the way we reckon 2019 is the best bet’.