Boris Johnson will push for a general election if the EU agrees to delay Brexit until January, No 10 has said.
On Tuesday, a majority of MPs signaled their support for the agreement that Johnson reached with the other 27 EU nations last week. However, in a follow up vote just 15 minutes afterwards, they refused to rush through the necessary legislation to leave the EU in three working days.
Johnson was forced by law to send a letter the EU requesting a three-month extension but he insists the UK will still leave at the end of October.
I must express my regret that the House has again voted for delay. We now face further uncertainty"
He said it was "joyful" that MPs had finally "embraced" a Brexit deal. But he added: "I must express my regret that the House has again voted for delay. We now face further uncertainty.
"The first consequence is that the government must take the only responsible course and accelerate our preparations for a no-deal outcome.
"Secondly, I will speak to EU member states about their intentions until they have reached a decision. Until they've reached a decision we will pause this legislation.
"Let me be clear - our policy remains that we should not delay, that we should leave the EU on October 31. And that is what I will say to the EU and I will report back to the house.
"One way or another we will leave the EU with this deal to which the House has just given its assent."
Taoiseach (Irish prime minister) Leo Varadkar has confirmed he supports the proposal to grant the UK's request for a three month extension. He spoke to the European council president Donald Tusk and they "noted" that an extension to the end of January would not prohibit an earlier departure from the bloc. The issue will be discussed at a key meeting in Brussels later this Wednesday.
The UK is now in a holding pattern with Johnson pausing his Withdrawal Agreement Bill, which could still be scrapped altogether. This significantly reduces the chances that the UK will leave the EU on October 31, as the prime minister had vowed.
DeVere Group's Nigel Green warns that the country is heading for what is in essence a second Brexit referendum and urged investors to take action now if they want to protect their money.