Britain's Chancellor of the Exchequer Philip Hammond is seen outside the Houses of Parliament in London, Britain April 9, 2019. REUTERS/Henry Nicholls

(Reuters) - British finance minister Philip Hammond raised the prospect of lawmakers revoking Article 50 this week rather than allowing Britain to leave the European Union without a deal if talks collapse, the Telegraph reported on Tuesday.

Hammond warned that the value of the pound could fall significantly if Prime Minister Theresa May fails to reach agreement on a Brexit delay with Brussels, the Telegraph said bit.ly/2KofwGj.

He made the comments during a meeting on Tuesday with other ministers in which various scenarios were discussed, the paper said, without citing sources.

May invoked Article 50 to give notice that Britain was leaving the EU over two years ago, but the details of how, when and even if Brexit will happen are still far from clear.