Brexit and the pound after parliament suspended
The UK government's decision to suspend parliament means the Brexit process is likely to go down to the wire. 'No deal' has become more likely, although we still narrowly think a no-confidence vote, which leads to an Article 50 extension and early elections, remains the most probable scenario
In theory, suspending parliament is a fairly normal event. In simpler times, the government would prorogue parliament for roughly a week before the Queen’s annual speech, used to announce the prime minister’s plans for the next year. But what is more unusual and controversial this time is the length of time involved – around five weeks, which means that when MPs return from recess next Tuesday, they will only sit for around a week before parliament is closed down until mid-October.