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Late last night, Labour unveiled its latest plan for Brexit.

It was hailed by backers of a second EU referendum, who called it a "big step forward" and "grabbing the Brexit bull by the horns".

Anti-'People's Vote' MPs then hit back warning they won't support going back to the public. One newspaper called it "Corbyn backs plan for second referendum".

But amid all the sound and fury, what Labour has suggested isn't actually as dramatic as you might think.

Here's a quick explanation of Jeremy Corbyn's amendment, what it will do - and what it won't do.

What is Labour's plan?

(Image: Getty Images)

Labour has unveiled an amendment to Theresa May's Brexit plan ahead of a string of showdown votes by MPs next Tuesday night.

If MPs pass it, the Prime Minister would be forced to give MPs a vote on options to prevent a No Deal Brexit on March 29.

Those options would have to include:

Negotiating changes to the Brexit deal to secure Labour's demands - a permanent customs union with the EU, a "strong relationship" with the single market and "dynamic alignment" on workers' rights.

to secure Labour's demands - a permanent customs union with the EU, a "strong relationship" with the single market and "dynamic alignment" on workers' rights. A second referendum, but only on "a deal or a proposition that has commanded the support of the majority of the House of Commons."

Why are people excited about it?

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Since September, Labour has been sitting on the fence about exactly how it should solve Brexit.

Jeremy Corbyn has kept a second referendum as one "option on the table", which apes a motion activists passed at the party conference.

Activists are now demanding he swing 100% behind a second EU referendum after his bid to force a general election didn't succeed.

So this new motion, promising a vote down the line on holding a second referendum, has caused lots of excitement.

What do second referendum supporters say?

(Image: Guy Bell/REX/Shutterstock)

Labour MP David Lammy of the anti-Brexit People's Vote campaign said: "It is a big step forward that for the first time my party is acknowledging in a parliamentary amendment that a People’s Vote may be the only way forward.

"At the same time, the leadership is saying that Labour’s own Brexit plan should now take 'centre stage' as this crisis unfolds.

"It is right that any proposal for Brexit deserves to be properly scrutinised. It is only when MPs have had the chance to look properly at these proposals, along with Norway Plus and a catastrophic 'no deal' departure from the EU that they will really be able to decide whether they meet the promises made for Brexit in 2016 and are at least as good as the deal we already have inside Europe."

TSSA General Secretary Manuel Cortes said: "This is an exemplary and timely amendment with Labour now grabbing the Brexit bull by its horns as May continues to pander to the far right in her party and outside it.

“By all means, Labour must now push the government to negotiate a damage limiting Brexit and it is right that our Party now insist that the British people have sign off on any deal.

"Of course, not agreeing to the deal and staying as we are must be an option when the people do get that final say."

But what do allies of Jeremy Corbyn say?

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Labour suggest the amendment is simply being faithful to the party's conference motion.

Shadow business secretary Rebecca Long Bailey said it does not "in any way" mean the party is backing a second referendum - yet.

Instead she told the BBC: "The amendment is very specifically-worded to allow for the debate of the options.

"It is not stating that the party supports a second referendum in any way.

"And indeed if it was passed, the amendment, and it went to a vote on the specific issues, then that would be a decision for the party to take at the time.

"We are prioritising seeking a deal which provides many of the assurances we have sought from the PM."

Plus - the amendment may well not pass

(Image: Leon Neal)

Leading Tory Remainers, such as Anna Soubry, have suggested they won't back Labour's Plan B amendment.

Without the support of a good number of Tory rebels, the amendment is unlikely to pass through Parliament.

If that's the case, the MPs' vote on a second referendum wouldn't happen.

And a People's Vote might not have a majority...

Under Labour's plan a People's Vote would need a majority of support in Parliament in order to be held.

Supporters of a second referendum concede it might not have a majority in Parliament yet.

So has anything changed?

Well of course, yes - Labour has laid out more of its plan and the path it wants to tread from here.

The promise of a vote on a second EU referendum brings the party a small step closer to backing one, somewhere down the line.

But if you think it'll mean a snap EU referendum just yet - you may be a little disappointed.

Full text of Labour's amendment

[This House] “requires ministers to secure sufficient time for the UK Parliament to consider and vote on options to prevent the UK leaving the EU without a ratified Withdrawal Agreement and Political Declaration, and that those options should include:

(i) Negotiating changes to the draft Withdrawal Agreement and Political Declaration so as to secure a permanent customs union with the EU, a strong relationship with the single market underpinned by shared institutions and obligations, and dynamic alignment on rights and standards, in order to command a majority in the House of Commons;

(ii) Legislating to hold a public vote on a deal or a proposition that has commanded the support of the majority of the House of Commons.”.

What about all the other Plan Bs?

You can read our full guide here.