The Conservative Party leader has provoked outrage after announcing she would seek a Brexit extension beyond next week to allow negotiations with Mr Corbyn. The Labour leader said he would be “very happy” to meet the Prime Minister in a bid to offer “certainty and security” to the British people. But top Brexiteers have reacted with fury, with Jacob Rees-Mogg calling the news of the talks “deeply unsatisfactory”, while former Foreign Secretary Boris Johnson branded it “very disappointing”. The news of a potential Brexit breakthrough sparked a surge in the pound, with Sterling climbing to €1.1759 against the euro and $1.3191.
At 9.00AM UK time, Sterling was trading at €1.1738 and $1.3185.
The currency then slipped back to €1.1708 and $1.3144 at 3.30PM UK time after being dented by the UK services PMI falling into contraction territory in March.
The PMI slumped to 48.9, as new orders fell for the third month in a row.
The meeting between Mrs May and Mr Corbyn comes as a group of cross-party MPs set their sights on averting a no-deal Brexit by tabling legislation requiring the Prime Minister to delay Britain’s withdrawal beyond 12 April.
A group of MPs – including Sir Oliver Letwin and Yvette Cooper – aim to fully pass a Bill through the Commons on Wednesday to stop the UK leaving the European Union without a deal in place.
Mrs May has seen her withdrawal agreement rejected three times in the Commons after failing to gather enough support to back alternative proposals considered so far.
Instead of initiating a third round of indicative votes on Wednesday, Sir Oliver will table a paving motion to allow debate and votes on Ms Cooper’s Bill.
An amendment to his motion would set aside 8 April for indicative votes.
Today will see the EU discuss how prepared the bloc is for Brexit.
As well as the briefing, European Commission president Jean-Claude Juncker will speak about the UK’s withdrawal in Brussels.
European Parliament Brexit co-ordinator Guy Verhofstadt, who had said he thought a no-deal Brexit was “nearly inevitable”, welcomed Mrs May’s offer of talks with Mr Corbyn.
He tweeted: “Good that PM @theresa_may is looking for a cross-party compromise. Better late than never.”
Following the mammoth Cabinet meeting on Tuesday, one source said ministers were split 14-10 against asking for a long extension to the process.
But a second Cabinet source said ministers spoke 17-4 in favour of the limited extension sought by the Prime Minister, with just Gavin Williamson, Penny Mordaunt, Chris Grayling and Liz Truss opposed to the measure.