The current Government won the last election on the basis of proposing a new free trade agreement with the EU. As it appears this may now not happen, there should be a referendum and parliamentary vote on whether the public are happy for negotiations with the EU to end without a deal.
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The referendum is to ensure the UK population endorses ending UK-EU negotiations with a deal, and the parliamentary vote would ensure that this move also has the support of the House of Commons, which will be responsible for passing any legislation required as a result of ending negotiations without a deal.