[No-deal Brexit would be] just as much a betrayal of the referendum result as not leaving at all - Philip Hammond

Parliament will not allow a no-deal exit

We have to be a forward-looking nation not a backward-looking nation, and I have to run the defence budget to deliver defence effect in the future, not to preserve regiments or shipyards just because they’ve been there for a long time in the past. And we move on. As a nation we move on.

I take the judgement that when there is a deal on the table that has very, very modest costs to the economy, which will allow us to move on as a nation both economically and politically, I judge that even narrowly, economically that will be in the best interests of the country