The Labour Party had tabled an amendment to the government’s Brexit plans but it was rejected by MPs on Tuesday night. The party wanted Prime Minister Theresa May’s Brexit deal to include a permanent customs union with the EU. The amendment also included a commitment to sticking with the Single Market.
He said: “We will back a public vote in order to prevent a damaging Tory Brexit or a disastrous no deal outcome.
“We will also continue to push for the other available options to prevent those outcomes, including a close economic relationship based on our credible alternative plan or a general election.”
Mr Corbyn has previously been vocal about his reluctance in supporting another referendum.
So why did he make a u-turn on a second referendum?
Mr Corbyn said the party will now back the Cooper-Letwin amendment of a people’s vote if Mrs May’s Brexit deal if voted down by parliament for a second time this month.
He said this will prevent the UK leaving on March 29 without a deal over the future relationship with the EU.
Speaking at the Parliamentary Labour Party meeting at the start of the week, Mr Corbyn said: “The Prime Minister is recklessly running down the clock, in an attempt to force MPs to choose between her botched deal and a disastrous No Deal. We cannot and will not accept.”
But other members of the Labour Party have always backed a second referendum.
Paul Williams, the MP for Stockton South, is among those pushing for a people’s vote after Theresa May “changed her mind” about the Commons vote.
He told Express.co.uk: “I was on the streets of Yarm and Thornaby this weekend. It was clear that now we know what Brexit actually looks like – as opposed to the fantasy described during the referendum – many people see this very differently.
“The majority of people in Teesside now want a final say.“Parliament is in deadlock and the Government can’t govern.
“We need to give the public a final say with a People’s Vote before the Prime Minister has a chance to embarrass our country even further.”
Coral’s odds on Britons going to the polls by the end of the year are now 2/1.
Coral’s Harry Aitkenhead said: “”Labour backing a second referendum has had a profound impact on our odds and the odds of another EU vote by the end of the year are now just 2-1.
“A No Deal Brexit is now out to 4-1, a big drift from just 24 hours before, and there can no doubt that the opposition putting their name to calls for a second vote has mean the chances of the UK leaving with no deal are much less now.”
But Mrs May still believes her revised deal is the best option for the UK and is firmly against a second referendum.
Her spokesman said: “There is a covenant of trust between the electorate and the government of the day and the PM’s firm belief is that it is the government’s duty to act on clearly expressed wishes of the electorate and, obviously, were that not to happen, that wouldn’t be, and shouldn’t be, without consequence.”