Britain could suffer from having no access to the European Union’s markets after Brexit and "will not take it lying down", Philip Hammond has admitted.
The Chancellor admitted in an interview with a German magazine that the “UK we could suffer from economic damage at least in the short-term” if it is left with no access to the EU. But he suggested that Britain could cut taxes to encourage companies to move to the UK if it were shut out from trading with the EU...The Telegraph disclosed Mrs May is preparing to set out plans for a ‘clean’ Brexit’ when she delivers her major speech at Lancaster House on Tuesday. This would see the UK pulling out of the single market and the customs union in order to regain control of immigration and end the jurisdiction of the European Court of Justice. A government source told The Sunday Telegrpah: “She's gone for the full works. People will know when she said 'Brexit means Brexit', she really meant it.” The comments alarmed pro-Remain MPs. Former education secretary Nicky Morgan, who was sacked by Mrs May, said the Prime Minister should put "maximum participation" in the single market at the heart of her negotiating strategy and warned her not to do anything to damage the economy.
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