May: Britain to leave EU on March 29

Britain's Prime Minister Theresa May said that Britain will be leaving the European Union on March 29, and that the bloc would only consider extending the ‘Article 50’ negotiating period if there was a credible alternative exit plan.

"The government’s policy is that we are leaving the European Union on the 29th of March," the PM told parliament, a day after her proposed Brexit deal was rejected by a large margin.

"But the EU would only extend Article 50 if actually it was clear that there was a plan that was moving towards an agreed deal," Reuters cited May as saying.

Yesterday, British lawmakers voted by 432 to 202 to reject a divorce settlement negotiated by the British government and the EU, a far bigger majority than anticipated.