LONDON (Reuters) – A Brexit outcome that left a large segment of the British people feeling betrayed would damage the country more than the small economic cost of Prime Minister Theresa May’s preferred Brexit plan, Chancellor Philip Hammond said on Wednesday.
Britain’s Chancellor of the Exchequer, Philip Hammond arrives in Downing Street, London, Britain, December 4, 2018. REUTERS/Henry Nicholls
May’s government looks unlikely to win parliament’s backing for the plan she has agreed with the European Union to leave on March 29, which will preserve some trade advantages but leave Britain subject to EU rules.
If May loses the Dec. 11 parliamentary vote on her deal it would open up possibilities that include a limited renegotiation, Britain leaving with no transition deal, a new election or even a second Brexit referendum, although the last is something May has ruled out.
Hammond told parliament’s Treasury Committee of the dangers of rejecting May’s plan and either not leaving the EU at all or abruptly breaking most ties with the bloc.
“Any solution which left the country divided, left a large segment of the population feeling betrayed, in my view, would have a negati