No-deal Brexit will be very bad for our economy: Finance minister Hammond

Britain's finance minister on Thursday warned those in his party vying for Prime Minister Theresa May's job that a no-deal Brexit would undermine the economy and threaten the United Kingdom's cohesion. "We need to get the spectre of a no-deal exit off the table," Philip Hammond told the BBC. "Leaving with no deal would be a very bad outcome for the economy."

"I'm not sure that people necessarily have understood what a risk we would be taking, not only with our economy but also with the future of our precious United Kingdom if we left with no deal," he said. "My personal view is it will not be fine, it will not be ok."