UK Brexit Minister Stephen Barclay warned that this is a “moment of crisis” for the country after Commons Speaker John Bercow “raised the bar” for another Brexit vote on the same deal. And it’s “more unlikely” for the meaningful vote to take place this week.

Nevertheless, Barclay also pointed out that Bercow already “pointed to possible solutions”. And Barclay added “you can have the same motion but where the circumstances have changed.” Also, Barclay noted “the speaker himself has said that where the will of the House is for a certain course of action, then it is important that the will of the House is respected.” He added that both an extension or a shift in support, could indicate a change in context.

But Barclay rejected the option of asking the Queen to cut short the entire parliamentary session, known as prorogation, He said “the one thing everyone would agree on is that involving Her Majesty in any of the issues around Brexit is not the way forward, so I don’t see that a realistic option.”

Sterling is apparently troubled by more Brexit chaos and weakens broadly. Firstly, ITV’s Robert Peston said it’s almost 100% certain that the UK government cannot make a deal with Northern Ireland DUP, and thus there will be no meaningful vote three (MV3) this week.

But more importantly, the Common speaker John Becrow just made a surprising statement in the Parliament. Simply speaking, Prime Minister Theresa May cannot bring the “same” motion, the Brexit deal that was defeated just last Tuesday, back for another meaningful vote.

That is, the same motion, or essentially the same motion, cannot be voted over and over again. This is a necessary rule to ensure the sensible use of the house’s time, and proper respect for what it decides.

Key quotes from John Bercow’s opening statement:

“If the government wishes to bring forward a new proposition that is neither the same nor substantially the same as that disposed of by the House on March 12, this would be entirely in order.

What the government cannot legitimately do is resubmit to the house the same proposition – or substantially the same proposition – as that of last week, which was rejected by 149 votes.

This ruling should not be regarded as my last word on the subject. It is simply meant to indicate the test which the government must meet in order for me to rule that a third meaningful vote can legitimately be held in this parliamentary session.”

One of the most influential Brexiteer hinted today that the might back Prime Minister Theresa May’s Brexit deal because a bad deal is better than no Brexit. Rees-Mogg, chairman of the European Research Group told LBC Radio that “no deal is better than a bad deal but a bad deal is better than remaining in the European Union in the hierarchy of deals.”

Mogg warned that “a two-year extension is basically remaining in the European Union.” But he also noted: “The question people like me will ultimately have to answer is: can we get to no-deal instead? If we can get to no-deal instead, that is a better option… but I am concerned the prime minister is determined to stop a no-deal.”

Separately, Foreign Minister Jeremy Hunt said there were “cautious signs of encourage” regarding May’s deal. And the government would “hope” to have another meaningful vote tomorrow. But he emphasized “we need to be comfortable that we’ll have the numbers”. Hunt of said “the risk of no-deal, at least as far as the UK parliament is concerned, has receded somewhat but the risk of Brexit paralysis has not.”

The British Chambers of Commerce (BCC) has downgraded UK growth forecast on “weaker outlook for business investment and trade amid continued Brexit uncertainty and slower expected global economic growth”. For 2019, growth forecast was downgraded from 1.3% to 1.2%. For 2020, growth forecasts was downgraded from 1.5% to 1.3%. in 2021, growth is projected to pick up slightly to 1.4%.

Also, BCC noted that business investment is projected to contract by -1.0% in 2019. And that would be the weakest outturn in a decade since the financial crisis in 2009. BCC blamed that “ongoing uncertainty over the UK’s future relationship with the EU is expected to continue to weigh on investment intentions.” And, “diversion of resources to prepare for no deal and the high upfront cost of doing business in the UK is also projected to limit the extent to which investment activity will bounce back over the near term.”

Full release here.

The UK Parliament will have meaningful vote on Prime Minister Theresa May’s Brexit deal for the third time this week. Ahead of that Chancellor of Exchequer Philip Hammond said a significant number of Conservatives have changed their mind last week to back the plan. And he expected more to come even though the government hasn’t had enough numbers yet. And, “it is a work in progress”.

Hammond said “What has happened since last Tuesday is that a significant number of colleagues, including some very prominent ones who have gone public, have changed their view on this and decided that the alternatives are so unpalatable to them that they on reflection think the prime minister’s deal is the best way to deliver Brexit.”

Last Tuesday, the Commons voted 391-242 to reject May’s “improved” deal. Back in January, the deal was voted down by 432-202.