Finance minister Jeremy Hunt defended the UK's post-Brexit trade deal with the EU, despite growing criticism about its economic impact, and rejected claims he was pushing for closer European ties.
Hunt, who voted to remain in the European Union at the 2016 referendum, was rumoured to be the source of a report last weekend that the government was eyeing a"Swiss-style" deal with Brussels.
"That means we are not negotiating or deciding the regulations that we want as sovereign equals, paying unnecessary money to the EU or indeed compromising on freedom of movement.He added:"With respect to the story in the Sunday Times, if you're saying was the Treasury, was I, the source for any suggestion we should seek to renegotiate the TCA to move it towards an agreement more like the agreement with Switzerland, the answer is no.
On Tuesday, the Organisation for Economic Co-operation and Development forecast the UK economy would contract more than any of the world's seven most advanced nations next year.
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