Pound jumps after government strikes deal with Tory rebels over Internal Market Bill

updated: 16 September 2020 at 4:18pm Author: Alexander Bueso

(Sharecast News) - The government has reached an agreement to add a layer of parliamentary oversight to its plans to potentially override part of the country's withdrawal treaty with the European Union.

"I understand a deal has been reached btw (between) Tories who wanted to vote for Bob (Neill)'s amendment to the controversial UKIM bill and the govt - it gives an extra layer of parliamentary oversight - ministers hope prevents rebellion next week," BBC Political Editor, Laura Kuenssberg, said on her Twitter account.

Tory party member, Bob Neill, had put forward a plan which would give Parliament a veto on the government's powers to break the treaty.

The pound jumped by 0.81% to 1.2994 in reaction to the news.