Brexit may be put back to the people Hammond says

Chancellor of the Exchequer Philip Hammond has said that Brexit may have to be put back to the people in a second referendum if the ongoing impasse cannot be resolved by the UK parliament.

Hammond signalled he could be willing to support a second referendum to resolve the deadlock, emphasizing that a general election will not resolve the question.

Britain’s finance minister warned those in his party vying for Prime Minister Theresa May’s job that a no-deal Brexit would threaten the United Kingdom’s cohesion and that they should tone down irresponsible spending pledges.

Mr Hammond also left the door open to standing to be the next Tory leader if his views on Brexit were not properly represented by another candidate. “My concern is to make sure that there is a voice in this competition representing the views that I hold: that we need to resolve the Brexit impasse in a way that protects our businesses and our jobs,” he said.

“We need to get the spectre of a no-deal exit off the table,” finance minister Philip Hammond told the BBC. “Leaving with no deal would be a very bad outcome for the economy.”

“I’m not sure that people necessarily have understood what a risk we would be taking, not only with our economy but also with the future of our precious United Kingdom if we left with no deal,” Hammond said.

The United Kingdom was supposed to have left the EU on March 29 but its politicians are still arguing over how, when or even whether the country will leave the club it joined in 1973.

No deal means there would be no transition so the exit would be abrupt. Bank of England Governor Mark Carney said leaving the EU with no transition could be akin to the 1970s oil shock.