This evening, the Government lost its second ‘meaningful vote’ in the House of Commons under section 13(1)(b) of the European Union (Withdrawal) Act 2018 to approve the draft Withdrawal Agreement and Political Declaration (alongside further supplementing documents) which had been negotiated with the EU. No amendments to the motion voted on were approved by Speaker John Bercow.

The immediate question facing business in the UK is, what next?

In her statement following the vote, Prime Minister Theresa May confirmed that tomorrow, MPs will be asked if they want to approve the UK leaving the EU without a Withdrawal Agreement, commonly known as a no-deal Brexit. If they reject a no-deal Brexit, MPs will then be asked to vote on Thursday on whether to extend Article 50 past 29 March for a short period of time. Exact details on the length of the possible extension are still uncertain.

We will monitor and report on developments as and when they arise this week.