Brexit may take longer than two years to finalise, Hammond warns

Philip Hammond says the UK's future relationship with the EU may not be fully determined by the deadline for Brexit. The Chancellor told MPs there is an "emerging view" among businesses, regulators and some politicians that the two-year timeframe after Article 50 is triggered may not be long enough to reach a "clear and firm end state". Giving evidence at the Treasury Select Committee, he suggested a transitional deal may be required to prevent a sudden "cliff edge" change in trade arrangements