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UK government survives no-confidence vote

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The motion, tabled following May’s 230-vote defeat on Tuesday, is an official way to vote on the confidence in any current U.K. government.

If the motion was agreed to, the sitting government would’ve had 14 days to form a new government that can win a subsequent confidence motion in the House of Commons. If not, then a general election would have been called.

The pound rose slightly against the dollar after a result that was widely expected.

“While Corbyn may try his luck with another vote of no confidence in the government soon, we would not expect him to have any more success a second time around,” Kallum Pickering, senior economist at Berenberg Bank, said in a research note.

“We reduce the risk of a Corbyn-led government from 30 percent to 20 percent. If parliament soon agrees to pursue a soft Brexit outcome, the risk that Corbyn could end up in Number 10 could fall even further.”

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