UK’s Hammond: Backing a 'no deal' Brexit means deliberately harming economy – Reuters

Anil Panchal FXStreet

Earlier Tuesday, Reuters came out with advance extracts to the UK finance minister Philip Hammond’s speech to the business leaders and politicians up for later part of the day.

The news report says British FinMin will on Tuesday warn that those pushing for Britain to leave the European Union without a deal would be doing deliberate damage to the British economy.

The news report further said that Hammond will say that:

There are some “on the populist right” who claim that only leaving without a deal is a “truly legitimate Brexit”.
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.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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