LONDON (Reuters) - The chances of Britain leaving the European Union without a deal at the end of October are underpriced, Britain’s Brexit minister Stephen Barclay said on Wednesday.
Asked about the likelihood of a no-deal Brexit, Barclay pointed to the fact that parliament is only due to sit for a relatively short period of time in September and October and that legislation required to pass a deal would be significant.
“I think a no deal is underpriced. It is still this government’s intention and both leadership candidates’ intention to seek a deal and I think it is the will of many members of parliament for there to be a deal,” he told a committee of lawmakers.
“But the question then will be is there a deal that is palatable to parliament and if not will parliament vote to revoke or will we leave with no deal?”
Reporting by Kylie MacLellan, editing by Elizabeth Piper
Our Standards: The Thomson Reuters Trust Principles.