Yesterday’s passing of the ‘EU Withdrawal Bill’ by the House of Commons may represent the clearing of a major Brexit hurdle for PM Theresa May, however, Betfair Politics informs that the UK public remain sceptical of the country leaving the European Union by the target deadline of 29 March 2019.
The Bill which aims to repeal a number of provisions set by the ‘1972 European Communities Act’, which saw the UK enter the European Community, will now be further scrutinised by select committees.
The delicate issue of the Withdrawal Bill’s exit provisions and potential amendments has caused rifts in both the Conservative and Labour camps, with UK media detailing that both PM Theresa May and Labour leader Jeremy Corbyn will face likely skirmishes in the coming future.
Updating its Brexit markets, Betfair Politics has detailed that its punters expect the UK not to exit the EU by the deadline of March 29th 2019, backing odds of 4/7 on the Betfair Exchange, representing a 63% chance that the UK will still be part of the EU when the target deadline comes and goes.
Katie Baylis, Betfair Spokesperson, commented on Brexit markets: “While the House of Commons voted in favour of the EU Withdrawal Bill, punters are still sceptical that Britain will have Brexited by the initial deadline of March the 29th 2019.
“Betfair Exchange currently has odds of 4/7 that it won’t happen by that date – that’s a 63% chance that we will still be a part of the EU after the date passes. Back in April shortly after Article 50 was triggered, it was odds-on that Britain would make the target date, but as negotiations have hit sticking points the odds have steadily drifted.
“We’ve even seen odds on Brexit not to happen before 2022 shorten dramatically and that eventuality has been backed at odds-on recently and is now 6/4. It’s actually seen as more likely by punters that Theresa May will leave her post as Prime Minister before the UK leaves the EU with odds of that happening currently at 1/2.”