British Prime Minister Boris Johnson has claimed the UK can “more than live with” a no-deal Brexit, which would see the UK trading with the EU on World Trade Organization (WTO) terms.
Speaking to the BBC’s Andrew Marr, Johnson said he didn’t “want the Australian, WTO-type outcome particularly, but we can more than live with it”.
Trading on WTO terms with its biggest trading partner could mean for the UK cross-border disruption, higher prices and a shortage of essential goods.
The UK officially left the EU on 31 January this year, but there is a transition period in place until 31 December, when an agreement, if there is to be one, would need to be in place.
The statement comes a day after the UK and the EU agreed to intensify talks in order to reach a deal.
A statement published by the European Commission on Saturday said that commission president Ursula von der Leyen and Johnson had agreed on the importance of coming to an agreement during a video conference.
In the joint statement, they said that “progress had been made in recent weeks but that significant gaps remained”.
On the possibility of a deal, Johnson told Marr “I think it’s there to be done. Alas there are some difficult issues that need to be fixed.”
Those difficult issues revolve around fishing in Britain's waters, the level playing field, and governance, among others.