Brexit
Hammond says he fears impact of worst-case no deal #Brexit
Hammond said that the report from Britain’s Office for Budget Responsibility (OBR) showed that even in the most benign version of a no deal EU exit there would be “a very significant hit to the UK economy”.
Speaking to Reuters on the sidelines of a G7 finance ministers meeting in France, he said that the OBR was clear that in a less benign version of a no deal scenario, the hit to the economy would be much harder, causing a much deeper recession.
“So I greatly fear the impact on our economy and our public finances of the kind of no deal Brexit that is realistically being discussed now,” Hammond told Reuters.
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