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    Britain's Chancellor of the Exchequer, Philip Hammond, delivers a speech to the Bankers and Merchants at The Mansion House in London, Britain June 20, 2017

    UK Wants to Ensure Brexit Deal to Benefit its Economy - Exchequer Chancellor

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    UK Chancellor of the Exchequer Philip Hammond stated that Brexit should promote prosperity of the United Kingdom.

    MOSCOW (Sputnik) The United Kingdom wants to ensure that arrangements for the withdrawal from the European Union will benefit its economy, UK Chancellor of the Exchequer Philip Hammond said on Tuesday during his speech at the annual gathering of London's financial elite in Mansion House.

    "We are not about to turn inward. But we do want to ensure that the arrangements we have in place work for our economy," Hammond said a day after the launch of the Brexit talks with the European Union.

    Hammond stressed that Brexit should promote prosperity of the United Kingdom, otherwise any other scenarios would be a failure to deliver the will of the UK nationals expressed at the national referendum.

    "They [British people] 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," Hammond added.

    Hammond highlighted that though EU counterparts broadly share with the United Kingdom the desire for close relationships, they would have their own priorities in the Brexit talks so London should clearly set its own.

    Brexit negotiations between the United Kingdom and the European Union officially started on Monday, and are due to be completed by March 30, 2019. According to the European Commission, the agenda of the first round of talks is set to focus on citizens' rights, the financial settlement, the border between Ireland and Northern Ireland, as well as other separation issues.

    On June 23, 2016, the United Kingdom held a referendum on leaving the European Union, which resulted in 52 percent of votes being in favor of Brexit.

    UK Chancellor of the Exchequer Philip Hammond expressed confidence in the possibility of achieving a Brexit deal with the European Union that would not only be beneficial for the United Kingdom, but also allow trade to continue flowing uninterrupted.

    "I am confident we can do a Brexit deal that puts jobs and prosperity first, that reassures employers that they will still be able to access the talent they need, that keeps our markets for goods and services and capital open, that achieves early agreement on transitional arrangements, so that trade can carry on flowing smoothly," Hammond said a day after the launch of the Brexit talks in Brussels.

    Hammond stressed that the United Kingdom would proceed with all concerns of the European Union over Brexit and underscored the need for flexibility while addressing said concerns.

    "We must, and we will, engage with all genuine concerns. And we must be flexible and pragmatic in responding to, and resolving them," Hammond added.

    Brexit negotiations between the United Kingdom and the European Union officially kicked off on Monday, and are due to be completed by March 30, 2019. According to the European Commission, the agenda of the first round of talks is set to focus on "citizens" rights, the financial settlement, border between Ireland and the Northern Ireland and other separation issues.

    UK Prime Minister Theresa May previously ruled out remaining part of the EU Single Market, which stipulates the free movement of people, but expressed her desire to reach a trade agreement with Brussels and allow the freest trade of goods possible.

    May has stressed that bad Brexit deal with Brussels is worse than no deal at all. In any case, the United Kingdom is seeking to reach a good deal and maintain a deep and especial partnership with the bloc.

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