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		</div><p>Chancellor Philip Hammond has warned the EU that Britain will &#8220;fight back&#8221; and not &#8220;slink off like a wounded animal&#8221; if it does not get the Brexit deal it wants.</p>
<p>In some of the toughest talking yet ahead of the UK triggering the Article 50 negotiations on terms of withdrawal, the Chancellor said Britain would &#8220;do whatever we need to do&#8221; to be competitive in the event of leaving the EU without a trade agreement.</p>
<p>Mr Hammond told the BBC&#8217;s Andrew Marr Show: &#8220;If there is anybody in the European Union who thinks that if we don&#8217;t do a deal with the European Union, if we don&#8217;t continue to work closely together, Britain will simply slink off as a wounded animal, that is not going to happen.</p>
<p>&#8220;British people have a great fighting spirit and we will fight back. We will forge new trade deals around the world. We will build our business globally.</p>
<p>&#8220;We will go on from strength to strength and we will do whatever we need to do to make the British economy competitive and to make sure that this country has a great and successful future.&#8221;</p>
<p>Asked if this meant the UK would slash business taxes to attract investment away from the EU, the Chancellor said: &#8220;People can read what they like into it. I&#8217;m not going to speculate now on how the UK would respond to what I don&#8217;t expect to be the outcome.</p>
<p>&#8220;But we are going into a negotiation. We expect to be able to achieve a comprehensive free trade deal with our European Union partners, but they should know that the alternative isn&#8217;t Britain just slinking away into a corner.&#8221;</p>
<p>The Chancellor indicated the UK would pay any Brexit bills it owed to the EU.<br />
He said: &#8220;Obviously, this is a piece of negotiating strategy that we are seeing in Brussels. We are a nation that honours its obligations and if we do have any bills that fall to be paid we will obviously deal with them in the proper way.</p>
<p>&#8220;We are a nation which abides by its international obligations. We always have done, we always will do, and everybody can be confident about that.&#8221;</p>
<p>The comments came after a Lords report stated that Britain could legally walk away from the EU without paying a penny if there is no trade deal.</p>
<p>While it has been reported that the European Commission&#8217;s chief Brexit negotiator Michel Barnier is seeking a 60 billion euro (£52 billion) &#8220;exit bill&#8221; from Britain, the Lords EU Financial Affairs Sub-Committee said all estimates of the cost of withdrawal were &#8220;hugely speculative&#8221;.</p>
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