December 6, 2017 / 3:19 PM / a year ago

Leaving EU customs union might not have big impact - UK's Hammond

FILE PHOTO: Britain's Finance Secretary Philip Hammond leaves Downing Street on his way to deliver his budget statement to parliament, London, Britain, November 22, 2017. REUTERS/Peter Nicholls/File Photo

LONDON (Reuters) - Chancellor Philip Hammond said leaving the European Union’s customs union need not represent a big change to Britain’s relationship with the bloc, if the country replicates most of the current arrangements.

“Now, that would have consequences and some of our colleagues would not find that palatable, but it would be logically possible to approach it in that way,” he told members of Britain’s parliament on Wednesday.

Hammond has previously said he favours striking a “pragmatic” Brexit deal with the EU to minimise the impact on businesses and the economy.

Reporting by David Milliken and Andy Bruce, writing by William Schomberg

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