‘No-deal Brexit might mean recession in Britain, EU’

The prime minister has requested another extension until 30th June

The prime minister also said in the letter that if talks with Labour don't lead to a "single unified approach soon", she will attempt to establish a "consensus" on options on a future relationship that could be put to the Commons.

Now, May has called in Jeremy Corbyn, leader of the opposition Labour Party, for talks on a way forward in the hope that a joint agreement will be passed by Parliament.

Shadow Brexit Secretary Sir Keir Starmer said the government was unwilling to change the text of the Political Declaration - the blueprint for future trade with the EU.

A spokesperson for Downing Street said on Friday that "serious proposals" had been made and that the government were prepared to pursue changes "in order to deliver a deal that is acceptable to both sides".

"It seems to me that this has been left so late in the day.it's hard to imagine that we are going to make real progress now without either a general election or a second referendum on any deal she can get over the line in parliament".

Prime Minister Theresa May has yet to move the "red lines" that have blocked a deal for Britain to leave the European Union, opposition leader Jeremy Corbyn said on Saturday, after May launched talks with him in a last-ditch bid to save Brexit.

"That is the basis for a compromise that can win a majority in Parliament and winning that majority is the only way to deliver Brexit", she said.

"We've had exchanges with the government over the weekend, clarifying our position, they've been setting out their's", she said, suggesting talks would resume later this week.

More news: United Kingdom asking for Brexit extension. When will the Brexit day be?

"The vision we had of Brexit is fading away - and we are running out of time to save it", she wrote in The Sunday Telegraph newspaper.

European Union leaders will meet in Brussels on Wednesday to discuss the next steps and decide whether to approve Theresa May's request for a further delay to June 30.

But the Conservative Party is divided over Brexit, with many MPs rebelling against the whips, effectively voiding the government's majority.

Some of May's lawmakers are warning they will try to oust her if Britain participates in European Union parliamentary elections next month and is forced to extend membership of the bloc beyond June, The Observer newspaper reported.

According to EU Council President Donald Tusk, the Tory leader calculated that the next election would likely result in another power-sharing deal with the pro-EU Liberal Democrats, and he could dodge the pledge.

Mrs May has already obtained one extension to the Article 50 withdrawal process, postponing the date of Brexit from March 29 to April 12.

"Most of the colleagues that I am talking to accept we will need longer to complete this process", Hammond added.

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