Brexit news latest: Philip Hammond to accuse no-deal advocates of 'hijacking' referendum result

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Chancellor Philip Hammond is set to accuse no-deal Brexit advocates of trying to "hijack" the referendum result.

In comments that are likely to add to Tory tensions ahead of the party's looming leadership battle, Mr Hammond will use a speech to the CBI's annual dinner in London on Tuesday to warn against right-wing populism.

Mr Hammond will say that if the Brexit issue is not resolved in the next few weeks, there is a "real risk" of a new prime minister moving towards a "damaging" no-deal exit policy for "ideological" reasons.

He will say that leaving the EU without an agreement would amount to deliberate harm to the economy and will accuse advocates of a no-deal Brexit of trying to "hijack" the result of the referendum.

Chancellor of the Exchequer Philip Hammond
REUTERS

In what will likely be seen as a sharp dig at some prominent Tory Brexiteers, Mr Hammond will say that "all the preparation in the world" will not avoid the consequences of no deal.

The chancellor will say: "On the populist right, there are those who now claim that the only outcome that counts as a truly legitimate Brexit is to leave with no deal.

"Let me remind them: the 2016 Leave campaign was clear that we would leave with a deal.

"So to advocate for no deal is to hijack the result of the referendum, and in doing so, knowingly to inflict damage on our economy and our living standards.

Chancellor Philip Hammond 
AP

"Because all the preparation in the world will not avoid the consequences of no deal.

"So I will continue to fight, in the face of this polarisation, for a negotiated Brexit - an outcome that respects the British people's decision to leave, while recognising that there is no mandate for a no-deal exit, and that we have an absolute obligation to protect Britain's jobs, businesses and future prosperity.

"But we need to be clear that if we do not resolve this issue in the next few weeks, there is a real risk of a new prime minister abandoning the search for a deal, and shifting towards seeking a damaging no-deal exit as a matter of policy... to protect an ideological position which ignores the reality of Britain's economic interests and the value of our union."

It comes as a Tory split deepens over Brexit and Theresa May's senior ministers prepare to discuss whether to offer MPs a menu of options to break the Commons deadlock.

Tuesday's Cabinet meeting is expected to consider the possibility of holding indicative votes in order to find something that the Commons can back.

The legislation for the Brexit deal - the Withdrawal Agreement Bill (WAB) - is due in the Commons in the week beginning June 3 and faces stiff opposition following the failure of cross-party talks to reach a compromise.

Additional reporting by PA.

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