U.K.'s Hammond Says 'Very Small' Chance of No-Deal Brexit: CNBC

(Bloomberg) -- There is only a “very small,” chance of Britain leaving the European Union without a deal later this year, according to U.K. Chancellor Philip Hammond.

“The key thing to remember is that Britain is a parliamentary democracy, and there is a clear majority in Parliament against a no-deal exit,” said Hammond, who was speaking to CNBC on the sidelines of the G-20 summit in Japan. “Parliament will ensure, in my view, that that does not happen.”

Several Conservative leadership candidates vying to succeed Theresa May as party leader and prime minister, including former London Mayor Boris Johnson, have promised to ensure the U.K. exits the EU on Oct. 31, with or without a deal.

Hammond has previously hinted that he would vote to bring down a government that was pursuing a no-deal Brexit. When asked about the prospect of him supporting a no-confidence vote, he told Sky News last month that he would “act in the best interests of the country” if he was “presented with a difficult choice”.

To contact the reporter on this story: Daniel Zuidijk in London at dzuidijk@bloomberg.net

To contact the editors responsible for this story: Katerina Petroff at kpetroff@bloomberg.net, Derek Wallbank, Jon Menon

©2019 Bloomberg L.P.