Despite calls to 'take back control' the economic reality is that tariffs will be determined by the 'bound rates' that the UK already has in place under the WTO and, ultimately, no tariff regime will make up for loss of access to the EU market

Chancellor to warn leadership candidates they can leave with no deal or spend, but not both

Philip Hammond says UK should stand by its existing obligations to the EU.

Philip Hammond is set to warn that a no-deal Brexit would harm the British economy, devour a £26.6bn Brexit war chest, and risk the break-up of the UK.

The Government has been accused of trying to play the “blame game” over a no-deal Brexit, as Michael Gove claimed that the EU was refusing to negotiate with Britain.

‘They are shorting the pound and the country’ warns Nick Macpherson of Boris Johnson’s hedge fund supporters.

'If the whole of the UK is in a customs union, then... the threat to the union in Northern Ireland would be gone'

Brexit ministers are demanding that Phillip Hammond provide them with “hundreds more” members of staff after departments have been forced to make cuts.

Chancellor Philip Hammond has warned that a no-deal Brexit could leave the new prime minister at the mercy of French president Emmanuel Macron, who could use access to the port of Calais as a way to exert pressure on the UK.

The idea of a second Brexit referendum is very likely to be put before Britain’s parliament again although the government remains opposed to any new plebiscite, the British finance minister said on Friday.

British finance minister Philip Hammond said on Monday he would not stay in his job when the country’s next prime minister takes over next week, and he would do everything he could to stop a no-deal Brexit.

Many in Weybridge, where Philip Hammond has been MP for decades, share his anger at Boris Johnson.