Hammond Sees Good Chance of Brexit Deal With Labour in Weeks



Jess Shankleman | Bloomberg

Chancellor of the Exchequer Philip Hammond said the British government and the main opposition party agree on the fundamentals of Brexit and stand a good chance of making a breakthrough in the “next few weeks.”

Talks with Labour aimed at finding a new Brexit consensus will continue next week, while Parliament is in recess, and the government hasn’t set red lines for these negotiations, Hammond said.

There have been disagreements about the priorities and approach, but “we agree on the fundamentals,” Hammond told reporters in Washington. “We’re in with a good chance of being able to reach an agreement on a way forward over the next few weeks.”

However, Hammond also warned that if the two sides can’t find a compromise, he may need to cut short a three-year spending review — due to start in the summer — aimed at ending austerity.

[To read the original article, click here.]