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

A trade deal will only happen if it is fair and balances the interests of both sides. Given the shape of the British economy, and our trade balance with the EU27, it is hard to see how any deal that did not include services could look like a fair and balanced settlement.

But let me go further - the government's analysis suggests that in a disruptive no-deal exit there will be a hit to the Exchequer of about £90bn. That will also have to be factored in to future spending and tax decisions.

Nobody is suggesting that the NHS doesn't have to reform, nobody is suggesting that it doesn't have to become more efficient, that productivity growth doesn't have to become positive … The only difference is that in health, because of the demographic pressure, the savings will all – and more – have to be reinvested in delivering more healthcare.