Jobs and prosperity come first in Brexit talks, says Hammond

0 Chancellor Philip Hammond made his comments in an address to City leaders at Mansion House Chancellor Philip Hammond has stressed the need to put jobs and prosperity first when negotiating Britain’s exit from the European Union.

Mr Hammond also highlighted the importance of transitional arrangements to avoid a “cliff edge” Brexit, including the maintenance of “frictionless” customs union border arrangements for an “implementation period” after leaving the bloc.

In a keynote speech to City leaders at Mansion House, the Chancellor again signalled his soft Brexit credentials by stressing Britain would leave the EU “in a way that prioritises British jobs and underpins Britain’s prosperity”.

Part of this will include ensuring immigration is managed, but not “shut down”, Mr Hammond said, as he stressed that boosting growth is the only way to end the “hard slog” of austerity.

Soft Brexit advocates including Liberal Democrat leadership candidate Sir Vince Cable and senior Labour MP Chuka Umunna urged others in government to take note of Mr Hammond’s approach.

Financial services lobby group Thecityuk, the Federation of Small Businesses (FSB) and the Institute of Directors (IOD) were among the industry voices who backed the Chancellor’s focus on the economy.

Shadow chancellor John Mcdonnell seized on the speech as fresh evidence Mr Hammond was trying to “distance himself ” from Theresa May’s prioritising of immigration controls, illustrating the weakness of the Prime Minister and the “disarray” the government finds itself in.

In his address, Mr Hammond said he was not turning a “blind eye” to a “growing tide of hostility” against globalisation and mass immigration. But he added: “Just as the British people understand the benefits of trade, so too they understand how important it is to business to be able to access global talent and to move individuals around their organisations.

“So while we seek to manage migration, we do not seek to shut it down.”

Mr Hammond insisted the economy must be a priority in Brexit talks, noting people “did not vote to become poorer”.

He said: “When the British people voted last June, they did not vote to become poorer, or less secure.

“They did vote to leave the EU. And we will leave the EU. But it must be done in a way that works for Britain. In a way that prioritises British jobs, and underpins Britain’s prosperity. Anything less will be a failure to deliver on the instructions of the British people.”