
Philip Hammond warns of dangers of no-deal Brexit
Rival Conservative factions are vying for influence over the future of Brexit"On the populist right, there are those who now claim that the only outcome that counts as a truly legitimate Brexit is to leave with no deal.
"Let me remind them: the 2016 Leave campaign was clear that we would leave with a deal.
"So to advocate for no deal is to hijack the result of the referendum, and in doing so, knowingly to inflict damage on our economy and our living standards.
"Because all the preparation in the world will not avoid the consequences of no deal.
"So I will continue to fight, in the face of this polarisation, for a negotiated Brexit - an outcome that respects the British people's decision to leave, while recognising that there is no mandate for a no-deal exit, and that we have an absolute obligation to protect Britain's jobs, businesses and future prosperity.
"But we need to be clear that if we do not resolve this issue in the next few weeks, there is a real risk of a new prime minister abandoning the search for a deal, and shifting towards seeking a damaging no-deal exit as a matter of policy... to protect an ideological position which ignores the reality of Britain's economic interests and the value of our union."
"I continue to support the prime minister to get her Withdrawal Agreement Bill through. It is leaving the European Union and so long as it continues to be leaving the European Union, I continue to support it.
"What I do think is that for any negotiation to succeed, you have to be prepared to walk away."

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"There are two separate effects of a no-deal Brexit that concern me. First of all there will clearly be short-term disruption which will have an unpredictable, potentially significant effect on our economy."Probably more importantly all the analysis that the government has done and published and that external commentators have published shows that there will be a longer-term effect which means that our economy will be smaller than it otherwise would have been.
"And I didn't come into politics in order to make our economy smaller, I came into politics to make our economy bigger and make our people better off."
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