Philip Hammond has said it is "theoretically conceivable" that all flights between the EU and the UK could be suspended on the day Britain leaves the EU.

The Chancellor said that while highly unlikely there is a possibility that if the UK leaves without a deal there could be no "air traffic" on March 29, 2019.

He said: “It is theoretically conceivable that in a no deal scenario there will be no air traffic moving between the UK and the European Union on the 29th March 2019. But I don’t think anybody seriously believes that that is where we will get to.

“There is a range of outcomes and what we will need to do at a point in time is determine what is a realistic worst case scenario that we need to plan for and invest for.

“On that specific point it is very clear that mutual self-interest means that even if talks break down, even if there is no deal, there will be a very strong compulsion on both sides to reach agreement on an air traffic services arrangement.”