(Bloomberg) -- Today in Brexit: Expect another tight vote as lawmakers try to block a no-deal departure.

What’s Happening?

U.K. members of Parliament will try again today to neutralize Boris Johnson before he comes to power.

In what’s expected to be another knife-edge ballot, the House of Commons will vote on a measure that aims to prevent the next prime minister from suspending Parliament to push through a no-deal Brexit. The measure passed by just one vote last week and was strengthened by the House of Lords on Wednesday. Now it goes back to the Commons, where it will be thrown out or confirmed.

MPs, led by pro-EU rebel Dominic Grieve, are acting now because they don’t know when their next opportunity could be. Johnson has repeatedly refused to rule out suspending Parliament – an option that was completely taboo until a few weeks ago. On Wednesday night, he declined again to comment on reports that he was thinking about it.

Parliament goes on holiday at the end of next week. When it returns in September, the clock will be ticking down loudly to the Oct. 31 exit deadline. (There are also parallel efforts to block no-deal in the courts.)

Newsnight reported that some ministers are considering quitting the government to be free to back the Grieve measure today. Some already plan to fight against a no-deal Brexit from the backbenches after they leave. Others might want to avoid looking too hostile just days before the new prime minister takes over. Justice Secretary David Gauke, a prominent pro-EU minister, declined to say how he would vote when speaking to BBC radio today.   

Johnson, the front-runner, put a bit more flesh on the bones of his Brexit plan in an interview with ITV on Wednesday. He said he wants a “standstill” agreement with the EU that would keep trade free of tariffs and quotas, and then negotiations to solve the issue of the Irish border as part of broader trade talks. The “standstill” would come to an end well before the next general election in 2022, he said.

On the one hand, this looks like a radical move to rip up Theresa May’s deal, rewrite the very structure of the negotiation and lead the country inevitably to a no-deal outcome by asking the EU for the impossible. At the same time, a “standstill” agreement sounds a lot like the transition that May negotiated  – a period during which everything stays the same even though the U.K. has officially left. 

Today’s Must-Reads

• Johnson warned voters that a trade deal with the U.S. won’t be done in a “trice” and will require robust negotiations. “The U.S. are very tough negotiators.”
• EU Commission Vice President Frans Timmermans said U.K. ministers were “running around like idiots” when they came to negotiate Brexit in 2017, according to BBC Panorama.
• Boris Johnson – a celebrity not a leader, writes the Guardian.

Brexit in Brief

“Terrifying” | Chancellor of the Exchequer Philip Hammond said it’s “terrifying” that leading Brexiteers think the U.K. would be better off in a no-deal scenario, escalating a long-running argument with the euroskeptic wing of his party. Meanwhile, Brexit Secretary Steve Barclay laughed at forecasts produced by Hammond’s department of the impact of exiting with no agreement.  Hammond is expected to leave the government next week and will fight any attempt by the next prime minister to lead the country into a chaotic Brexit.

Underpriced | In his appearance before lawmakers on Wednesday, Barclay also said the risk of a no-deal Brexit was still “underpriced.” 

Brexit Recession | The Office of Budget Responsibility is expected to say that Britain will descend into recession next year if it leaves the EU without a deal, the Times reports. The five-year forecast shows the economy contracting in 2020, and GDP will be at least 3% lower under a no-deal scenario. 

New Car | Lotus Cars is preparing for an expansion under Asian owner Geely Automobile Holdings Ltd. that could see the iconic British automaker open a second U.K. factory. Chief Executive Officer Phil Popham said he’s unconcerned about Brexit. “We’re a nation that’s historically one of the biggest traders in the global market, always have been, always will be, so it’s matter of time before a new deal is done with Europe and other trading partners around the world,” he said.

New Brexit Chief? | Johnson has lined up Daniel Moylan to run his Brexit policy, the Telegraph reported. Moylan, a eurosceptic, was Johnson’s aviation adviser when he was London mayor.  

Brexit Winners | The U.K.’s management-consulting industry is enjoying a boom thanks to Brexit. The Management Consultancies Association said revenue growth for its members in 2018 was the second fastest in more than a decade, Bloomberg Law reports.

On the Markets | Trading in the pound is about to get more volatile, according to a measure of future market swings. Measures of expected volatility over the next three and six months have surged to the highest among Group-of-10 currencies. Meanwhile, Morgan Stanley forecasts sterling may fall to parity with the dollar if Britain crashes out of the bloc.

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To contact the author of this story: Emma Ross-Thomas in London at erossthomas@bloomberg.net

To contact the editor responsible for this story: Anne Pollak at apollak@bloomberg.net, Leila Taha

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