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No Brexit Deal Will Have 'Ruinous Consequences' for Britain

© AP Photo / Kirsty WigglesworthDemonstrators, one dressed in a Theresa May puppet head pose near parliament in London
Demonstrators, one dressed in a Theresa May puppet head pose near parliament in London - Sputnik International
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As UK Members of Parliament (MPs) gather, March 13, to push through a bill calling for British Prime Minister Theresa May to invoke Article 50 of the Treaty of Lisbon. Triggering the formal start of Britain leaving the European Union, there are warnings that failure to reach a deal will have "ruinous consequences" for the UK.

MPs are gathering for the final stages of the Article 50 bill after the upper chamber — the House of Lords attempted to scupper the UK Government's plans for Brexit, by adding an amendment to the bill currently going through parliament demanding the government give an undertaking — within three months of triggering Brexit — to protect the rights of EU workers in the UK.

David Davis, Secretary of State for Exiting the European Union arrives at Downing Street in London, Britain October 24, 2016. - Sputnik International
Brexit Secretary Warns Conservatives Against Voting in Favor of Bill Amendments

The government had wanted the bill to go through parliament in its simple form, without any amendment, as it wanted to include all options in the negotiations with Brussels over Britain's new relationship with the EU post-Brexit. However, the Lords have insisted on key changes to the bill.

This includes an amendment allowing parliament to have the final say over the terms of Britain's relationship with the EU post-Brexit — which means that — theoretically — if the House of Commons and the House of Lords do not believe the deal finally negotiated is good for Britain, it can reject it, leaving a "no deal" conclusion.

Britain would then fall out of the EU, with no agreement in place as to is future trading relationship with the EU. Experts say it would revert to World Trade Organization rules.

Anand Menon, Director of UK in a Changing Europe and Professor of European Politics and Foreign Affairs at Kings College London tweeted:

​However, UK Foreign Secretary Boris Johnson disagreed.

"I don't think that the consequences of no deal are by any means as apocalyptic as some people like to protest," he told the Peston on Sunday TV program.

​The House of Commons is expected to dismiss the two Lords' amendments — on EU citizens' rights and a final "take it or leave it" vote, March 13 — and the bill will then be passed in the Lords and go through before the end of the day. It is then widely rumored Theresa May will then trigger Article 50 and the negotiations will begin.

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