Hammond hints he would block no-deal
Chancellor Phillip Hammond has hinted he would be prepared to fight against a no-deal Brexit from the backbenches, claiming it could cost up to £90 billion if the UK "crashes out" without a deal.
The chancellor said it was “highly unlikely” that he would still be in his job after Theresa May steps down on July 22, and that it would fall on MP’s to ensure a no-deal scenario doesn’t happen.
Mr Hammond told MP’s that leaving the EU without a legal agreement would be “wrong” and cause a hit to public finances.
Shadow chancellor John McDonnell asked Hammond during Treasury questions if he would vote with Labour to oppose any attempt to stop parliament sitting to facilitate a no-deal Brexit go ahead.
Responding to John McDonnell, Hammond said: “I do agree with him, it would be wrong for a British government to pursue no deal as a policy and I believe it will be for the House of Commons, of which I will continue proudly to be a member, to ensure that doesn't happen”
Both candidates vying to become prime minister in July have indicated they would be prepared to leave the EU with no deal on October 31 if talks with Brussels continue to stall.
The idea of proroguing - or shutting down - parliament was first floated by Dominic Raab in his bid to become leader, but Boris Johnson has also refused to rule it out.
Mr Hammond recently stressed a need for fiscal discipline after Tory leadership hopefuls Boris Johnson and Jeremy Hunt made a series of lavish spending proposals in an attempt to woo Conservative members.