Britain not bluffing on no-deal Brexit, says Liam Fox

International trade secretary says he is not scared by the idea of no deal, but Labour says it would be a ‘serious threat’

Emmanuel Macron is completely wrong to believe the UK government is bluffing over its talk of a no-deal Brexit, Liam Fox has said, as he insisted he would not publish studies detailing the potential impact of such an outcome on the economy.

Fox, the international trade secretary, said that while he would prefer Britain to reach a trade arrangement with the EU, he was not scared by the idea of no deal, which would lead to a default to World Trade Organisation trading terms.

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