UK’s Hammond: No deal outcome is not impossible though unlikely

The UK Finance Minister Phillip Hammond is on the wires now, via Reuters, making the following comments on the Brexit deal.

Confident will reach a Brexit deal this autumn.

But must continue to prepare for all scenarios.

No deal outcome is not impossible though unlikely.

No deal outcome would put at risk substantial progress over the past 10 years.

Economy stands fundamentally strong.

Cannot take this economic progress for granted.

IMF is clear that no deal Brexit would be extremely costly for the UK and EU.