UK’s Hammond fears impact of worst case no deal Brexit

Speaking to Reuters on the sidelines of a G7 finance ministers meeting in France, British Finance Minister Philip Hammond made some remarks on the impact of a no-deal Brexit.

Key Quotes:

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".

"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."