LONDON (Reuters) - British Foreign Secretary Philip Hammond said on Sunday it would be "catastrophic" for Britain to lose access to the European single market after it voted to leave the European Union.
Hammond, who campaigned for Britain to remain in the bloc, said Britain would not be able to keep access to the single market while also asserting complete control over migration from EU member states.
He said candidates to succeed David Cameron as Conservative Party leader and therefore as prime minister would have to make clear where they stood on the trade-off between controlling migration and retaining single market access.
Hammond said he would not be a candidate to lead the party and the country.
(Reporting by Estelle Shirbon; editing by Guy Faulconbridge)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app