UBS Wealth Management economists are backing a “long” extension to Article 50 as the most likely solution to the current deadlock over Brexit.

The attempt to build a cross-party consensus is likely to fall over due to a lack of trust between the Tories and Labour, and pushback from the respective parties, UBS said in its latest statement on the matter.

UBS WM economist Dean Turner said that in the unlikely event that Theresa May and Jeremy Corbyn do manage to agree on a way forward, “we question how long any agreement would last as the necessary legislation required to facilitate Brexit makes its way through Parli...