Mubasher: British finance minister said on Wednesday that any outcome that left the majority of British people feeling betrayed would damage the country more than the modest economic cost of the current Brexit plan.
Philip Hammond’s remarks came as the Prime Minister Theresa May is expected to lose the vote of the parliament on the draft agreement she reached with the European Union (EU).
The deal will preserve some trade advantages but leave Britain subject to some EU rules.
If May loses the parliamentary vote on 11 December, it would open up possibilities that include a limited renegotiation, Britain leaving with no transition deal at all, new elections or even a second Brexit referendum, Reuters reports.
“Any solution which left the country divided, left a large segment of the population feeling betrayed, in my view, would have a negative political impact and societal impact that would far outweigh the very small economic impact that the White Paper scenario is showing here,” Hammond stated.