Brexit: What happens next? Theresa May sets out 10-point compromise package

Boris Johnson is the clear front runner to succeed Mrs May

Sterling has edged higher from a five-month low against the dollar, as investors gave a lukewarm welcome to United Kingdom prime minister Theresa May's latest bid to get MPs to back a Brexit deal.

But Labour leader Jeremy Corbyn said his party could not vote for the Withdrawal Bill, describing Mrs May's new offer as "largely a rehash of the Government's position" in talks with the Opposition that broke down last week.

The new bill is expected to include new measures on protecting worker rights, which is an issue where the two main parties almost agreed.

It will also will oblige the government to keep trade in goods with the European Union as frictionless as possible.

He twice voted against the Prime Minister's withdrawal agreement but backed it at the third attempt in March, when it was again rejected by MPs in the House of Commons.

Three years since Britain voted to leave the European Union and nearly two months after the planned departure date, May is mounting a last bid to try to get a deeply divided parliament's backing for a divorce deal, to leave office with some kind of legacy.

British media estimate that a third of her cabinet members have either openly declared their ambitions to become prime minister or are preparing their campaigns.

The party's support was unchanged from a week ago.

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"We will have to await the publication of the text of the bill to see what the proposals actually mean but the fact is that the fatal flaws of the draft treaty remain", the Democratic Unionist Party's deputy leader Nigel Dodds said in a statement after May's speech.

The Labour Party and rebels within May's Conservative Party have said they plan to oppose it.

Ian Blackford, a lawmaker with the pro-EU Scottish National Party, said it was "too little, too late from a prime minister who is headed for the exit door".

In extracts released in advance, Hammond said "to advocate for "no deal" is to hijack the result of the referendum, and in doing so, knowingly to inflict damage on our economy and our living standards".

She namechecked two Labour backbenchers, Gareth Snell and Lisa Nandy, in her speech, saying she had made concessions to their demands for assurances that parliament would have a say on any final Brexit deal.

Despite the collapse of cross-party talks with Labour, the Bill contains a series of commitments on workers' rights and environmental protections created to appeal to Opposition MPs. Former Conservative MP Anna Soubry, now with Change UK, tweeted: "Even if Bill passes #BrexitNightmare does NOT end because May's Withdrawal Agreement does NOT settle our final relationship with the European Union so the polarised debate continues AND we all know @Conservatives are determined to remove May asap (to) elect a "No Deal" Leader".

"Regrettably, it will probably also boost the Brexit Party vote on Thursday".

Theresa May's expected departure from Downing Street in the next few weeks or months makes any serious prospect of resolving the Brexit impasse any time soon even more unlikely than before.

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