British MPs Vote to Kill No-Deal Exit From EU, Dodging ‘Hard’ Brexit

LONDON — British members of Parliament nixed a no-deal Brexit in a vote late Wednesday, and will likely ask the European Union to extend the country’s exit date past the March 29 deadline. MPs voted 312 to 308 in favor of killing the no-deal option “in any circumstance,” sending the pound up 0.7 percent to $1.32. The result will come as a relief to British businesses and organizations fearful of the consequences of a no-deal or “hard” Brexit. Earlier in the day, Philip Hammond, Britain’s Chancellor of the Exchequer, who is in charge of the nation’s purse strings, said leaving with a deal would bring a “Brexit dividend” to the country. A no-deal exit, he added, would see the economy suffer with higher unemployment, lower wages and higher prices for consumers. Hard-line Brexiters would argue that postponing the March 29 deadline would accomplish little, and create more uncertainty and confusion in the markets. They would also argue that the threat of a no-deal Brexit was the only bargaining chip that Britain had left in its divorce proceedings with the EU. Prime Minister Theresa May said Tuesday night that if MPs pull the no-deal option off the table and ask for an extension, “the EU will

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