The UK's tumultuous divorce from the European Union is again in disarray as the opposition Labour Party declared last-ditch cross-party talks dead, pushing Prime Minister Theresa May's premiership to the brink.
Nearly three years after the UK voted 52 per cent to 48 per cent in a referendum to leave the EU, it is still unclear how, when or if it will ever leave the European club it joined in 1973. The current deadline is October 31.
Brexit talks between May's Conservative Party and Labour collapsed on Friday, hours after May agreed to set out a timetable for her departure in early June.
Labour leader Jeremy Corbyn wrote to May on Friday informing her the Brexit talks, which began on April 3, had "gone as far as they can."
"We have been unable to bridge important policy gaps between us," Corbyn, a socialist who voted against joining the EU's predecessor in 1975, wrote.
"Even more crucially, the increasing weakness and instability of your government means there cannot be confidence in securing whatever might be agreed between us."
He said Labour would oppose May's deal when it returns to parliament.
The divorce deal, which May agreed last year with the EU, has already been rejected three times by a deeply divided parliament.
The pound sank to $US1.275 ($A1.855), its lowest level since mid-January.
May's hands have been tied, knowing that to make concessions to Labour would lead to fury in her divided party. Labour has feared any compromises on issues such as workers' rights would be torn up by May's successor.
Britain's crisis over Brexit has stunned allies and foes alike and, with deadlock in London, the world's fifth largest economy faces options including an exit with a deal, a no-deal exit, an election or a second referendum.
May will put her Withdrawal Agreement Bill to a vote in parliament in early June even though rebels in her party have pledged to defeat it. Then she must agree a timetable for the election of a successor.
Boris Johnson, the face of the campaign for Britain to leave the EU, said he would be standing as a candidate to replace May as Conservative leader.
Johnson has been one of May's most outspoken critics over Brexit and supports leaving the EU without a deal.
UK Parliament has repeatedly said it does not want a no-deal Brexit.
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