* May wins two weeks' breathing space
* Goldman sees a deal approved after delay
* Aston Martin: Brexit delay prolongs uncertainty
* Lawmaker Letwin: May might just squeak a deal through (Adds PM May's spokesman, EU migration)By Guy Faulconbridge and Kylie MacLellanLONDON, Feb 28 (Reuters) - Britain's opposition Labour Partywill back a new referendum on Brexit after parliament defeatedits alternative plan for leaving the European Union, itseurosceptic leader Jeremy Corbyn said.With 29 days left until the United Kingdom is due to leavethe European Union, both Prime Minister Theresa May and Corbynhave been forced into making changes to their approaches to thedivorce.Corbyn, who voted against membership in 1975 and gave onlyreluctant backing to the 2016 campaign to remain in the EU, onWednesday gave ambiguous backing for another referendum, sayinghe would push for one alongside a British parliamentaryelection.It is the first time since Britons voted in 2016 to leavethe EU that one of its two major political parties has thrownits weight behind giving voters a chance to change their minds.But it was unclear what the exact question might be.
"After tonight's votes in parliament, we'll continue to pushfor a close economic relationship based on our crediblealternative plan or a general election," Corbyn said."We'll also back a public vote in order to prevent adamaging Tory Brexit or disastrous no deal."John McDonnell, the second most powerful man in the LabourParty, said it would put down an amendment calling for a secondreferendum as soon as May brought a deal back to parliament.Britain's Brexit minister, Steve Barclay, said there was noconsensus in parliament for another referendum or even on whatquestion might be asked. After months of saying that Britain must leave the EU ontime on March 29, May opened up the possibility on Tuesday of ashort extension to the exit date.She is hoping to bring back a tweaked divorce accord for aparliamentary vote, which could come as early as next week butmay not take place until March 12.Talks with the EU have moved forward in the last week, butthere is a significant amount of work to do, May's spokesmansaid.
BREXIT MAZEIf her deal is voted down, May has promised that lawmakerswill get a chance to vote the day after on whether to leave withno deal and then on March 14 to vote on asking the EU to delaythe deadline.French President Emmanuel Macron said on Wednesday the EUwould agree to extend the Brexit deadline beyond March 29 onlyif Britain justified such a request with a clear objective.Lawmakers on Wednesday voted 502-20 in support of anamendment proposed by opposition Labour lawmaker Yvette Cooperthat spelled out May's proposed timetable.
The government backed the amendment though 20 lawmakers inMay's Conservative Party voted against and 80 abstained.
After enduring more than 2-1/2 years of uncertainty sincethe 2016 referendum, some business chiefs are relieved thethreat of a no-deal exit has been pushed back to June thoughothers said the delay merely prolonged the lack of clarity."I would categorise it as a further annoyance," Aston MartinChief Executive Andy Palmer told Reuters. "You're holding thatcontingency stock for longer which means that your workingcapital is tied up for longer."Aston Martin, which has authorised up to 30 million pounds($40 million) worth of contingencies, is stocking morecomponents and could fly in parts if ports are clogged up.British business confidence slid in February to its lowestlevel since June 2016, adding to other signs that Brexituncertainty is hurting companies. Net migration to Britain fromthe European Union fell to the lowest since 2009. GOLDMAN'S GUESSGoldman Sachs said it expected many Brexit-supportingConservative lawmakers to accept a revised deal, partly becausethe Labour Party was tilting towards a second referendum."We continue to see the most likely outcome of the currentimpasse as eventual ratification of the prime minister's Brexitdeal, with a three-month extension of Article 50," Goldman said.Goldman Sachs raised the probability of that outcome to 55percent from 50 percent while cutting its view of no-deal Brexitto 10 percent from 15. It kept the probability of no Brexit at35 percent.
One Brexit-supporting lawmaker in May's party said May wouldhave to achieve legally binding treaty change to get support forher deal."If the prime minister brings back something different thenof course we will look at that very seriously," Theresa Villierstold the BBC. "But it would have to be legally binding, treatychange."May has a serious chance of getting a deal approved byparliament in the next few weeks, Conservative Party lawmakerOliver Letwin said."She might just squeak it," Letwin told Sky.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Theresa May gains two weeks' Brexit reprieve from Britishlawmakers For a menu of Brexit stories ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Writing by Guy Faulconbridge; Additional reporting by CostasPitas and William James; Editing by Alistair Smout and KateHolton; Editing by Janet Lawrence)