Published: Tue, July 10, 2018
Worldwide | By Myra Stephens

British pound dives after United Kingdom ministers quit

British pound dives after United Kingdom ministers quit

Johnson rocked the Government by becoming the second Cabinet minister to resign in less than 24 hours.

Mrs May however appears to have lived to fight another day, with no vote of no confidence tabled by her MPs.

Johnson said crucial decisions on preparing for a no deal Brexit had been "postponed" - meaning Britain was headed for a "semi-Brexit". "The dream is dying, suffocated by needless self-doubt", he wrote. But leading pro-Brexit lawmaker Jacob Rees-Mogg said he did not think she would face a leadership challenge. In her statement to members of Parliament, May acknowledged the splits in her government, saying of the ministers who quit: "We do not agree about the best way of delivering our shared commitment to honoring the result of the referendum".

Davis's late-night resignation undermines May's fragile government.

"In a resignation letter, Davis said the "'common rule book' policy hands control of large swathes of our economy to the European Union and is certainly not returning control of our laws in any real sense".

"It seems to me we're giving too much away, too easily, and that's a unsafe strategy at this time", Davis said in a BBC radio interview Monday morning.

Britain's Prime Minister Theresa May speaks to assembled guests, as she hosts a reception to mark the 70th anniversary of the NHS, at 10 Downing Street, in central London on July 4, 2018.

She said she and the two departed ministers "do not agree about the best way of delivering our shared commitment to honoring the result of the referendum" in which United Kingdom voters opted to leave the EU.

"That is why we are demanding a People's Vote on the final Brexit deal".

Mr Johnson and Mr Davis were joined by another Brexit minister Steve Baker MP, and two parliamentary private secretary MPs Conor Burns and Chris Green.

Opposition politicians were quick to capitalize on May's troubles.

"There is now a new secretary of state and we look forward to moving on, " he said.

She took to the House of Commons today to detail her Brexit proposals amid the chaos.

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