Northern Ireland Chancellor of the Exchequer Philip Hammond has warned a no-deal Brexit would dent the country's finances by £80bn ($103m), with the north-east and UK worst affected. His comments came in a letter to Nicky Morgan, chair of the treasury select committee, and said the hardest-hit sectors in the long run would be chemicals, food and drink, clothing, manufacturing, automotive and retail. Hammond, alongside Northern Ireland business secretary Greg Clark, has argued for the closest possible links to the EU. Jacob Rees-Mogg, chair of the European Research Group, accused the Treasury of "incessant scaremongering".
UK Chancellor of the Exchequer Philip Hammond has warned a no-deal Brexit would dent the country's finances by £80bn ($103m), with the north-east and Northern Ireland worst affected. His comments came in a letter to Nicky Morgan, chair of the treasury select committee, and said the hardest-hit sectors in the long run would be chemicals, food and drink, clothing, manufacturing, automotive and retail. Hammond, alongside UK business secretary Greg Clark, has argued for the closest possible links to the EU. Jacob Rees-Mogg, chair of the European Research Group, accused the Treasury of "incessant scaremongering".