Jeremy Corbyn pulls plug on Brexit talks with Theresa May

Boris Johnson at the 2019 British Insurance Brokers' Association conference announcing his intention to replace Theresa May

While both sides insisted the discussions had taken place in good faith, Prime Minister Theresa May said that a key sticking point had been Labour splits over a second referendum, while the opposition said that May's imminent departure from Downing Street meant that there was no guarantee any promises would be kept by her successor.

Almost three years after the United Kingdom unexpectedly voted in a referendum to leave the EU, it is still unclear how, when or if it will ever indeed quit the European club it joined in 1973.

But her approach to the Brexit endgame, refusing to accept MPs' trenchant opposition to her deal before belatedly opening ultimately futile negotiations with Labour, has left May politically abandoned.

And with May set to announce within weeks that she plans to step down, Corbyn said the "increasing weakness and instability" of the government made striking a lasting agreement impossible.

MPs are due to vote for a fourth time in early June on the terms of Britain's withdrawal from the EU.

Nigel Farage has said he does not know where Boris Johnson stands on Brexit in response to claims he could support the Tory leadership hopeful becoming prime minister.

"What we're seeing is the market pricing in a higher probability of an exit without a deal", Adam Cole, chief currency strategist at RBC Capital Markets, said, noting the growing risk that the bill would fail to pass and May would depart before parliament goes into recess in late July.

Labour supporters of a people's vote called on Mr Corbyn to declare that he has reached the end of the road in pursuing the options set out in last autumn's conference motion and will throw the party's weight fully behind a Final Say referendum.

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Labour, Corbyn wrote, is concerned the May government's ability to deliver on any compromise agreement, noting that cabinet ministers have been "competing" to succeed May and the government's authority "eroded".

Health Secretary Matt Hancock said an early election risked losing to Labour and "killing Brexit altogether". Labour has feared any compromises on issues such as workers' rights would be torn up by Mrs May's successor.

But, since then, the British Parliament has refused to rubber-stamp the deal, with some politicians complaining it leaves the United Kingdom too close to the European Union, post-Brexit, and others fearing it leaves them too far apart.

And Corbyn's Labour, the principal opposition party, while politically committed to leaving the European Union, also opposes the deal over issues of workers' rights and those of European Union nationals living in Britain and British nationals living within the EU.

"Will consider any new proposals from government on Brexit".

Meanwhile, Boris Johnson, the face of the campaign for Britain to leave the European Union, said on Thursday he will be standing as a candidate to replace May as Conservative leader.

The PM then pushed back against Labour's position on Brexit.

Mr Hancock said the current circumstances would make it hard to predict the result of any general election before Brexit.

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