Tentative Brexit Deal Reached in Last Ditch Effort

A Brexit deal finally in the works?  According to the latest tweets from European Union leaders and Prime Minister Boris Johnson, a tentative agreement has been placed.  Both sides believe this deal would be beneficial for both parties, though nothing is set in stone yet.  It still needs to be voted on and approved by the parliament.  No details have been released on the agreement.

This may be the last-ditch effort to get a deal in place before the Brexit deadline of October 31st.  The parliament is set to vote on Saturday. 

Unfortunately, it seems, the Labour party released a statement that says they will reject this deal and said it was “an even worse deal than Theresa May’s”.  Theresa May was the previous Prime Minister before Boris Johnson, who failed several times to get a deal in place.  After failing to get a deal in place, Theresa May stepped down as Prime Minister.

Saturday’s vote is crucial as there will not be an extension if the deal isn’t approved.  Many believe this deal that will be put to a vote will be the only one and if not approved, the UK may very well leave the European Union without a deal. 

The deal is mostly concerning trade deals with the European Union.  Another facet of the deal is in regards to Northern Ireland and the Republic of Ireland.  Northern Ireland will be leaving the Union as part of the United Kingdom, while the Republic of Ireland will remain with the European Union.

Talks of a deal boded well for our market.  Investors are optimistic, causing our stocks to end the day on the positive side.