“No-Deal Brexit Wouldn’t Be The End Of The World”; Theresa May Says

British Prime Minister has claimed that a no-deal Brexit “wouldn’t be the end of the world” as she sought to dismiss concerns raised by Philip Hammond last week that failure to reach an agreement with the EU would cost £80bn in extra borrowing and hurt the economy.

Chancellor of the Exchequer Philip Hammond has warned in his letter to Nicky Morgan MP that no deal Brexit would push up borrowing by about £80 billion a year in 15 years’ time with the economy growing as much as 10 percent more slowly. His letter sparked division and anger in the Conservative Party.

Speaking to reporters as she headed to South Africa on a five-day visit to three African nations, Theresa May quoted what Roberto Azevêdo, the director general of the World Trade Organisation said last week about the Brexit situation. Azevêdo told BBC radio that trade wasn’t going to stop if the UK and the EU failed to strike a deal.

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“Look at what the director general of the World Trade Organisation has said.” May said, “He has said about the no-deal situation that it will not be a walk in the park, but it wouldn’t be the end of the world.”

The PM continued: “What the government is doing is putting in place the preparation such that if we are in that situation, we can make a success of it, just as we can make a success of a good deal.”

“I’ve said right from the beginning that no deal is better than a bad deal. I think it’s absolutely right that the government is putting the preparations in place for no deal because we don’t know what the outcome of this is going to be. But alongside that what we’re doing is working for a good deal.” She added.

Not only the Prime Minister, but also Tory MP Marcus Fysh dismissed Hammond’s warning, saying that it’s just “anther instalment of dodgy project fear,” and Jacob Rees Mogg who claimed it would not be as “absurdly frightening as the chancellor of the exchequer thinks it may be,”

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