Shadow chancellor John McDonnell gave Philip Hammond a "red book" as a gift in the Commons earlier - not that one, though - as the pair agreed on the perils of a no-deal Brexit.

Mr McDonnell gave the chancellor's predecessor, George Osborne, a copy of Chairman Mao's "little red book", but he handed Mr Hammond a book of walks instead to enjoy in his free time.

Mr Hammond acknowledged it was "highly unlikely" he would still be in his job after Theresa May stands down next month.