Britain's Chancellor of the Exchequer Phillip Hammond walks through Downing Street in London, Britain January 18, 2017. REUTERS/Neil Hall
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British finance minister Philip Hammond warned the European Union Thursday that Britain would find other ways to remain competitive after Brexit if it did not strike a comprehensive trading deal with the bloc.The prime minister said in a speech this week that Britain would quit the EU single market when it leaves the European Union.British officials want to reassure business and political leaders in Davos after May said this week she was taking Britain out of the EU's single market of 500 million consumers to be able to control immigration.Asked how such an arrangement could work, Hammond said Britain wanted to explore options to find ways in which businesses – including the financial industry, which fears losing the right to sell its services in the bloc – could trade freely.
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