UK's Hammond: No-deal Brexit would deliver significant short to medium term hit to economy

Additional comments from British finance minister Philip Hammond continue to cross the wires as he delivers his budget statement.

Key quotes (via Reuters)

• No-deal Brexit would deliver significant short to medium term hit to economy.
• The idea that there is some simple fix to avoid consequences of no deal Brexit is wrong.
• Any fiscal and monetary response to no deal would have to be carefully calibrated so as not to cause inflation.
• Progress we have made will be at risk if we cannot secure smooth and orderly exit from EU.
• Confident that lawmakers will pass EU deal over coming weeks || says no deal is not what British people voted for.