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Philip HammondGETTY

The Chancellor has been accused of wanting a soft Brexit and he said that the UK will leave in 2019

The 61–year–old also claimed he was hopeful that talks on a post–Brexit EU trade deal will begin in the autumn but he reiterated that the UK will seek to “deepen ties” with trading partners around the world.

Mr Hammond, who is leading a business delegation to Brazil before visiting Argentina during a South America tour, told a press conference: “The arrangements for our relationship with the European Union post-Brexit are the subject of negotiation.

“We will leave the union on March 29 2019 and at that moment all our current legal obligations with the European Union, all our current treaty arrangements – including the jurisdiction of the European Court of Justice – will end.

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“Of course it is then possible for us as a sovereign nation to negotiate future relations with the European Union, and that’s the process that we hope to begin this autumn – of discussion with our European Union partners about the future trading relationship with them.

“But that trading relationship will not be based on membership of the European Union, it will be based on treaty – just like a future trading relationship with Brazil will be based on a treaty.

“We will be seeking to strengthen and deepen our ties with trading partners around the world – including Brazil.”

Tue, July 25, 2017

Britain starts informal trade talks all over the world

Britain's Foreign Secretary Boris Johnson holds a tuatara lizard during his visit to the Zealandia wildlife santuary in Wellington

AFP/Getty Images

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Britain’s Foreign Secretary Boris Johnson holds a tuatara lizard during his visit to the Zealandia wildlife santuary in Wellington

The Chancellor has been accused of manoeuvring to ensure a soft Brexit while Theresa May is on holiday in Italy.

Responding to questions, Mr Hammond answered “No” in response to whether Brexit will be “postponed or delayed”.

He said: “As Michel Barnier, the EU negotiator says… the clock is ticking, we are already in a timescale that has to end on March 29 2019, which is when Britain will leave the European Union.

“There’s a discussion going on about how we then move from full membership of the European Union to a future relationship with the European Union and that’s a debate, a discussion that will go on through this negotiations.

“What role can trade with Brazil play in Britain’s transition to a new role in the world? A very important role.

Philip HammondGETTY

The Chancellor is currently on a trip around South America

Theresa MayGETTY

The Prime Minister took a break from her holiday to attend Passchendaele Commemorations In Belgium

“We will look to increase our trade relationships and our investment with traditional partners around the world.

“Britain has always been an outward-looking country and we have many strong and historic partnerships like the one with Brazil, and we will seek to build up our trade in both directions with those partners over the coming years as we leave the European Union and once again have the ability to conclude bilateral trade deals with friends and allies around the world.”

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