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UK Treasury chief issues stiff no-deal Brexit warning

Anti-Brexit remain supporters stand with European flags and pro-Brexit leave supporters hold red placards as they all protest outside the Houses of Parliament in London, Wednesday, June 19, 2019. Britain's Conservative Party are set to kick one more candidate out of the contest to become the country's next prime minister, as rivals scramble to catch front-runner Boris Johnson. The five-strong field will be narrowed in elimination votes by Tory lawmakers Wednesday and Thursday, with the two top candidates going to a runoff of party members across the country. (AP Photo/Matt Dunham)

LONDON — Britain’s Treasury chief is warning that leaving the European Union without a deal would damage the economy and ultimately risk the break-up of the United Kingdom.

Philip Hammond is expected to use a showcase annual speech in the City of London on Thursday to warn contenders for the Conservative Party leadership that a no-deal Brexit could “risk the union and our economic prosperity.”

According to excerpts from his speech, Hammond will say the contenders need to spell out what will happen if their Brexit plans falter, and outline what Plan B might be.

In a possible suggestion to a second referendum, Hammond will say that “if the new prime minister cannot end the deadlock in Parliament, then he will have to explore other democratic mechanisms to break the impasse.”

The Associated Press