UK Finance Minister: Brexit Treachery Would Have Done More Harm to Britain Than Leaving the Bloc

Forex News

The government of the UK Prime Minister Theresa May faces a difficult struggle for parliament to support a plan she has agreed with the EU. If May loses the parliamentary vote on the deal on December 11, it will open the way for a wide range of results, including the UK withdrawal from the EU without a transitional agreement, new elections or a second Brexit referendum.

Britain’s finance minister Philip Hammond stated, that any Brexit outcome, that would have left most of the British people with the feeling that they were betrayed, could harm the country more than the modest economic costs of maintaining Prime Minister Theresa May’s plan for Brexit.

"Any solution which left the country divided, left a large segment of the population feeling betrayed, in my view, would have a negative political impact and societal impact that would far outweigh the very small economic impact that the White Paper scenario is showing here," Philip Hammond told the parliament's Treasury Committee.