UK finance minister Hammond seeks 'pragmatic' Brexit
Reuters
Published Jun 16, 2017 11:36AM ET
UK finance minister Hammond seeks 'pragmatic' Brexit
By Philip Blenkinsop and Elizabeth Miles
LUXEMBOURG, June 16 (Reuters)- British finance minister Philip Hammond said Britain should adopt a pragmatic approach to Brexit negotiations which begin on Monday, striking a different tone to Prime Minister Theresa May who has threatened to leave the EU without a deal if necessary.
The debate within Britain's government about how to quit the European Union has been blown wide open by an election that left May without a majority in parliament and damaged her authority in the ruling Conservative Party.
Hammond, speaking to reporters before a meeting of the 28 EU finance ministers on Friday, said Britain should work closely with the bloc to prioritize jobs and prosperity when Brexit talks start next week.
"As we enter negotiations next week we will do so in a spirit of sincere cooperation taking a pragmatic approach to trying to find a solution that works both for the UK and for the European Union 27," he said.
The comments added to signs that Hammond is trying to revive his calls for a business-friendly Brexit.
In contrast to May's uncompromising tone with its focus on controlling immigration, Hammond has long stressed the importance of ensuring that British employers can continue to find the skilled workers they need from the EU.
Britain's giant banking industry and other business groups see Hammond as their most powerful ally in government and they were worried when it appeared he might lose his job in the run-up to the election.
JOBS AND GROWTH
But May, weakened by her election flop, opted to keep Hammond in his job along with other key ministers.
The chancellor of the exchequer was asked whether he favored a softer version of Brexit - such as British membership of the EU single market or of a customs union.
Hammond said Britain's position had been set out in a speech by May in January and a letter she sent to EU leaders in March when she triggered the Brexit process. May has said Britain will leave both the single market and the customs union.
"My clear view, and I believe the view of the majority of people in Britain, is that we should prioritize protecting jobs, protecting economic growth, protecting prosperity as we enter those negotiations and take them forward," he said.
Hammond had been due to spell out his views on Brexit in a speech on Thursday, but it was canceled following a deadly tower block fire in London on Wednesday. He is expected to deliver it in the coming days.
The Sun newspaper reported this week that Hammond had won the backing of interior minister Amber Rudd on the need to focus on the economy in Brexit. Two former Conservative prime ministers have also urged May to soften her approach.
Get The News You Want
In a sign that Britain was sticking to its guns on some of the key points in negotiations with the EU, the Brexit minister said on Friday no deal could be struck on exiting the EU unless the future relationship with the bloc was taken into account alongside the withdrawal terms.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.