"This debate, this division, can not drag on much longer", May said in a televised statement from 10 Downing St. after an all-day Cabinet meeting.
Donald Tusk, President of the European Council, appealed for the EU to give Mrs May time as she attempted to break the deadlock.
The BoE once published a report, saying the UK's GDP could fall as much as 10.5 percent over a five-year period given the severest Brexit scenario, and housing prices in the United Kingdom could plummet as much as 30 percent.
May has ruled those options out, because sticking to European Union trade rules would limit Britain's ability to forge new trade deals around the world.
"I don't think it's the silver bullet some people think it is", Mr Wilson said of indicative votes.
After intense debates that went on for an entire evening, British lawmakers rejected the four alternative options for the Brexit deal proposed for voting, the World Agencies said.
"There is only one treaty available - this one", he said, waving the withdrawal agreement.
MPs will once again take control of parliamentary time from the Government and numerous ideas have returned for a second attempt. It is the first time she has committed to following the instruction of lawmakers.
The EU has given Britain until April 12 to come up with a Brexit plan or leave the bloc.
"I have always been clear that we could make a success of no-deal in the long term but leaving with a deal is the best solution", she said in a televised statement from 10 Downing St.
In Britain, though, political chaos continued to reign.
Pro-Brexit Conservative Bill Cash told parliament seizing control in this way was a "a reprehensible procedure".
The motion that came closest to reaching a majority involved keeping Britain in a permanent customs union with the EU.
Amid all the uncertainty, analysts have said the economic impact in Britain could be massive. If such an extension was not approved by the EU, the proposal foresaw, on the day before the scheduled exit from the EU, that MPs were asked what they were choosing - going without an EU deal or canceling the triggering of Article 50 and terminating Brexit.
Edwin Morgan, interim director general of business group the Institute of Directors, said May's statement was "a welcome step towards compromise", though there remained obstacles ahead.
This means the only deal still left on the table is that put forward twice by Prime Minister Theresa May's - already rejected twice in heavy defeats by the House of Commons.
But it has been roundly rejected by lawmakers on both sides of the Brexit divide.
In a letter to the prime minister he wrote: "I simply can not support any further extension to Article 50".
The European Parliament's Brexit coordinator, Guy Verhofstadt, warned that a no-deal Brexit was looming unless Britain changed course.
Cooper has introduced legislation, which Parliament is set to consider, this week, that would require May to seek to extend the Brexit process beyond April 12 in order to prevent a no-deal departure.