September 3, 2019 / 8:03 AM / 18 days ago

Goldman Sachs raises 'no deal' Brexit chances as general election looms

People hold placards during the "Stop the coup protest" in Parliament Square in London, Britain. September 2, 2019. REUTERS/Simon Dawson

LONDON (Reuters) - Goldman Sachs has raised its estimate for the likelihood Britain will crash out of the European Union without a deal to 25% from 20% citing the prolonged suspension of Parliament, as lawmakers decide the fate of the government’s Brexit plans.

Goldman said its base case with a 45% probability remained that a close variant of the existing Brexit deal which was rejected three times will pass in the House of Commons. The bank cut the probability of no Brexit to 30% from 35%.

UK lawmakers will decide on Tuesday whether to shunt Britain towards a snap election when they vote on the first stage of their plan to block Prime Minister Boris Johnson from pursuing a no-deal Brexit.

Reporting by Thyagaraju Adinarayan; editing by Josephine Mason

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