A betrayal of the Brexit vote would have far-reaching consequences for Britain's social fabric, which would outweigh the economic costs of leaving the EU, Philip Hammond told MEPs.

The Chancellor said in a statement by a high-ranking member of the government that Brexit was a political calculation and not one that would benefit the economy, Theresa May's deal allowed the country to "move on" without much of Britain feeling to have been cheated.

Before next week's vote on the Prime Minister's resignation agreement with Commons Finance Committee members, the Chancellor said that the agreement's support will allow Britain "to accept that we have found a compromise solution in a more British fashion and have continued to do so ".

He added, "Any solution that the country has shared has betrayed a large part of the population, and I believe that this would have negative political and societal implications that far outweigh the very low economic impact [of May’s deal], "

Hammond's comments came after a series of official studies released by the Bank of England and the government, revealing that the UK economy would fare better in a remaining scenario and affect May's Brexit plan.

Their deal has united the opponents of Brexit and the EU, which is likely to result in them being rejected by Members a little over 100 days before the end of the EU exit deadline next Tuesday.

Hammond warned that it would be a catastrophe for both the economy and British policy if the country remained in the Brexit debate for a few months or more.

He said the country must turn away from the damage caused by the uncertainty and intense focus on Brexit in Westminster: "We need to solve the problem in order to be able to reintroduce the latest technologies and support our business to focus on continuing education and all other things we need to do. "

Hammond commented after Labor MP Wes Streeting, who is a member of the Finance Committee, asked the Chancellor whether it was time for the government to announce the Brexit costs "in advance of the public".

He said voters in the constituency had only heard about "minimizing the damage" from the government and voters had only seen how Britain got poorer: "They have no vision for a better future outside the European Union, they just see the United Kingdom make economic compromises to achieve a political goal. "