On Tuesday, March 12, the House of Commons voted against British Prime Minister Theresa May's Brexit deal for the second time, plunging the island nation into chaos.

Now that parliament voted to rule out a no-deal, the remaining possibilities range from an extension of Article 50 to a second referendum which could cancel the wretched soap opera of Brexit entirely. Of course, that's not what people want.

In reality, millions of people in Britain are in the dark, and are suffering economically in many ways. They are back to square one and don't know when or if they will ever leave the European Union. They know that Brexit would be hard for them, and staying in the EU would be worse.

Being in Brexit purgatory – voting against leaving without a deal and for an extension – won't solve the problems they face either. Lest they forget, further talks are now impossible, with most of the EU hardliners standing firm in their opposition. “There will be no third chance,” they say.

Britain is trapped not because some Remainers allegedly colluded with the EU, or Brussels failed to take trade talks seriously, and/or due to "intractable differences" and stinking duplicity in the Brexit quicksand. It is because of austerity measures that the country is currently suffering. The grip of chaos is terrifying families and crippling businesses, all while dissuading foreign investors.

British politicians should hang their heads in shame to claim otherwise. In this tribal game, they take the public for fools, posing as Leavers one day, Remainers the next. Their sole concern is their party, not the working class. Many have sold their election promises and constituents down the river.

Likewise, the EU should hold its head in shame in its three-year campaign to humiliate and punish the people of Britain, hoping to overturn their Leave vote and their right to self-determination and sovereignty. No EU politician should ever be in any doubt how the British people see them now in this darkest hour.

It is said matters cannot go on like this forever, yet all alternatives are equally disagreeable. Waiting for Brexit is indeed an existential farce. This is not just an argument about leaving the EU but, instead, a broader question about the kind of country Britain wishes to be.

That is the nub of the problem and public opinion has hardened on all sides. It is foolhardy to think the EU will ever save Britain from the quagmire into which it has sunk through its own actions, mainly the current austerity measures. The EU simply has too much on its plate to care. It will not preserve British membership at any cost, much less save PM May's legacy.

Despite their clever attempt today at spinning the obvious, Backbenchers on all sides holding out for their preferred options are in the know, too. They know that the EU is in crisis and it cannot rescue Britain. It's too busy trying to save itself, too weak and too rattled by populist forces to be able to make that kind of sacrifice without setting itself on a course to self-destruction.

This points to another reality. Italy's government has adopted a budget in contravention of EU guidelines, testing whether national governments within the EU are truly sovereign. They are not. And the EU's pillars, France and Germany, are driven by political instability and violent protests that will almost surely increase, come what may.

To assess the full picture, and not just fragments of it, the only way to save Britain from itself is by completely reversing the effects of austerity, saying no to a renewed "Thatcher Revolution" that has for years been an economic, political, social and moral disaster for the working class, and opening up the economy to the outside world – far and away from the EU.

It is undeniable that after the soap opera of Brexit, any decision to double down on the failed strategy of austerity and the game of tariffs would be a fatal mistake. It will simply result in the slowest recovery from recession.

No matter what happens with Brexit, the most likely scenario remains that investment and slashing tariffs to zero on imports could be the engine of the UK economy post-Brexit. It's the only way to weather the Brexit campaign comparatively unscathed.

Leaving the EU won't undermine the investment or liberalization case in the UK, either. In contrast, bureaucratic red tape, import tariffs, slow permitting and approval processes, costly fee structures and outright moratoria preventing wireless upgrades from places like China will all negatively impact national economic output and jobs. Simply put, it will throw the UK off the cliff.

What to make of all this? Under the right regulatory and policy frameworks, the British leaders, backbenchers, regulators and officials can help spur international trade, including next-generation network infrastructure investment, resulting in economic growth, job creation and increased consumer welfare – with or without the EU on board.

It would be a win and a respite for British consumers, workers, and taxpayers, as well as international vendors and companies from China and elsewhere. After all, this was the reason why people voted for Brexit, a referendum on fair trade policy and shared prosperity that will bring home real benefits.

It is said, in the world of multilateralism, diplomacy is the fine art of give and take on the biggest stage imaginable. Fair trade and collective growth can't be attained if one side simply issues diktats. The European Union's hardliners, control freaks and dodgy trade partners in Brussels did just that to Britain for almost three years – three agonizing years. Now is the time for Britain to look elsewhere for real partners.