She noted that if United Kingdom lawmakers back her Brexit deal, Britain could still leave by June 30 - the Brexit deadline she had requested from the bloc - and possibly as soon as May 22, which would release Britain from having to participate in elections for the European Parliament.
The extension at least provides more time for May to break the logjam, though it could easily just prolong the national agony.
For a couple of decades, Britain has been scheduled to leave the EU.
The decision is a compromise.
Labour leader Jeremy Corbyn said the second Brexit extension in the space of a fortnight represents "not only a diplomatic failure, but is another milestone in the government's mishandling of the entire Brexit process".
MPs in Britain continue to be opposed to the Withdrawal Agreement finalised by May with the European Union in November 2018 and have rejected the so-called divorce bill three times since January this year.
Britain was due to have left the EU before European elections in late May.
If May fails to win over lawmakers on the treaty or fails to hold an election, Britain will leave with no deal on June 1.
Dropping to 32%, the Conservatives are now three points behind Labour, who stand at 35%.
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May had previously ruled this out because it prevents Britain from striking lucrative independent trade agreements with giants such as China and the United States.
Several days of talks have failed to produce a breakthrough.
Corbyn claimed that the Labour Party is focused on talks with the opposition side in his response to May's statement. Still, the negotiations are set to continue.
While May now has until October 31 to find backing for her unloved Brexit withdrawal deal, Britain could still leave earlier if talks with the country's opposition Labour Party find a compromise that can win a majority in Parliament.
May's 27 European Union counterparts pulled another all-nighter in Brussels before clinching a compromise timetable for Britain's departure, extending the deadline until October 31. Labour and opposition parties, and a few of May's Conservatives backs the proposal. Pro-Brexit government ministers could resign, increasing pressure on May to quit.
"I would expect this is the last delay", Rutte said.
Corbyn, meanwhile, could face rebellion from a high number of Labour lawmakers that want a brand fresh referendum on Britain's European Union exit.
Labour is pushing for a general election that could bring it to power for the first time since 2010. "I think politics is broken". Britain is a member of the World Trade Organization so tariffs and other terms governing its trade with the European Union would be set under exclusively WTO rules. But it's still unclear how, and even if, Brexit will happen.
The deal was also seized on by parliament's Remain faction as the opportunity to press forward their preferred option of a second referendum to reverse the 2016 leave decision. In a desperate last throw of the dice, May has decided Corbyn is somewhow fit to determine the nature of Brexit, and our future relationship with the EU.
With one Brexit day gone and another following, the Government has lost control of the timetable.