UK's Hammond: There is a majority in the Commons who want to prevent a no-deal outcome

UK finance minister Philip Hammond added to this earlier comments and said that a no-deal would give a significant hit to the economy in the medium-term but there is a majority in the House of Commons who want to prevent a no-deal outcome.

Key quotes:

   •  There is no consensus in parliament about what we do want on Brexit.
   •  Both sides of this debate are still dug in and we all need to compromise to find a way forward.
   •  Those who voted to leave were told they would get a deal with the EU.
   •  If we don't get a deal, there will be very significant disruption in the short-term.
   •  I don't think the EU will remove the backstop.