No-deal Brexit “wouldn’t be the end of world,” says May

Aug 28, 2018, 5:11 AM EDT
British PM Theresa May said the country's economy can endure a no-deal Brexit.
(Source: EU2017EE Estonian Presidency/flickr)

In an attempt to play down Chancellor Philip Hammond’s bleak Treasury forecasts in case of a no-deal Brexit, British Prime Minister Theresa May said the U.K.’s crashing out of the E.U. without a deal “wouldn’t be the end of the world.”

The Prime Minister’s comment came as Hammond drew the wrath of the Tory right that accuses the Chancellor of launching another “project fear” by forecasting a crippling impact of no-deal Brexit on the country’s economy, notes Evening Standard.

The issue has divided May’s cabinet as it was evident in the remarks by Brexit Secretary Dominic Raab, who publicly voiced his reservations about the latest economic forecasts given that previous heads-ups over quitting the E.U. have all been off-base, notes The Guardian.