Economics
U.K. to Do ‘Whatever’ Is Needed to Be Competitive, Hammond Says
- Britain may ‘change economic model’ if denied EU market access
- Chancellor of the Exchequer comments in interview with Welt
Philip Hammond.
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
The U.K. will do “whatever we have to do” to boost its competitiveness if it fails to secure post-Brexit access to the European Union single market, Chancellor of the Exchequer Philip Hammond said in an interview published Sunday in a German newspaper.
“If Britain were to leave the European Union without an agreement on market access, then we could suffer from economic damage at least in the short-term,” Hammond said in an interview with Welt am Sonntag. “In this case, we could be forced to change our economic model and we will have to change our model to regain competitiveness. And you can be sure we will do whatever we have to do.”