Analysts and lawmakers expect the Supreme Court’s ruling to go against the government.
British Prime Minister Theresa May will find out today whether she will need the British parliament’s approval to trigger article 50 of the EU-Lisbon treaty.
Britain’s Supreme Court is set to provide a ruling on this landmark case today at 9:30 a.m. (0930 GMT) in a case that will determine whether May can use executive powers, also known as her “royal prerogative” to invoke Article 50 of the EU-Lisbon Treaty.
Led by investment manager Gina Miller, the challengers (which have the backing of the Scottish government) to May’s royal prerogative have made it clear that Britain will have to first get parliamentary approval for leaving the EU since it will strip the right of British citizens granted by the British parliament.
This view has been backed by London’s High Court thus prompting the government to go on appeal to the Supreme Court, the country’s highest judicial body in the land.
According to legal experts, the likelihood of May losing the case is higher. If this scenario were to happen May will then need to table a bill in the parliament and open up the Brexit process to parliamentary scrutiny.
The case has attracted the attention from markets, since it is hoping that the British parliament could temper moves towards a “hard Brexit”.
Brexit supporters have denounced judges as “enemies of the people” with Miller receiving death threats and a torrent of online abuses.
The full bench of the Supreme Court sat on the panel for the four-day hearing with the 11 judges stating that the issue isn’t about overturning the referendum hut how Brexit should be legally implemented.
According to analysts, a ruling against the government could lift the sterling, although gains could be modest since its gains would be limited since the outcome has largely been factored in to the price of the sterling.
The thrust of the case has revolved around whether the British parliament has to give its assent to the Brexit process.
Should the court agree that parliamentary nod is not needed, May’s Brexit timetable could be derailed by an ongoing political crisis in Northern Ireland, where the government has collapsed.
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