Update: After being greeted by jeers from the House of Commons, May has confirmed that she will be cancelling the vote and returning to Brussels to try and work out a more agreeable arrangement for the Irish backstop that will address the concerns of Brexiteers.
The jeers grew louder when May brought up the possibility that a defeat for her deal could mean no Brexit. Continuing its downward moment from earlier in the day, the pound is moving lower on May’s comments.
*U.K.’S MAY CONFIRMS SHE’S PULLING BREXIT VOTE IN PARLIAMENT
*MAY: CHALLENGE OF IRISH BORDER MUST BE MET WITH REAL SOLUTIONS
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As we reported earlier, after acknowledging that her Brexit deal faces the possibility of an “overwhelming” defeat in the House of Commons, Prime Minister Theresa May has reportedly finally caved and is expected to call off the planned Tuesday vote in a speech before Parliament.
The speech is slated to start at 10:30 am ET. Watch it live below: