Phillip Hammond was quizzed on Sir James Dyson's remarks after the leading Brexit businessman claimed a no-deal situation could boost Britain's place in the world.

Sir James is among the growing group of Brexiteers to come out and voice his support for a no-deal Brexit scenario amid a deadlock in the negotiations with Brussels.

However, the British Chancellor used his interview with Robert Peston on ITV today to refute these claims, saying Britain should not throw away any existing access it has.

Peston had asked him whether Britons should be afraid of a no-deal scenario, or instead embrace its "benefits" like an increasing number of Brexiteers are advocating. 

Mr Hammond told Peston: "The greater the level of access we are able to achieve to our existing markets in Europe as we leave, the better. 

"Businesses have existing customers, existing supply chains, so the less disruption to them, the better it will be.

"We will carve new markets as we make our way in the world, but why throw away existing markets if we can agree to retain access to them."

The remarks ahead of Mr Hammond's highly-anticipated budget this week, put the head of the Treasury at odds with Liam Fox and Boris Johnson, who claim a no-deal scenario is nothing to fear and that Britain will be well-prepared in such a case. 

The Chancellor added that he is "increasingly confident we will get a deal that works for Britain". 

Sir James Dyson's comments appeared in last week's interview on the BBC's Andrew Marr Show, where he declared that "the time has come" for the United Kingdom to walk away from the European Union without a Brexit deal. 

He explained: "We are in a very very strong position, incredibly strong position. We shouldn’t give them any money, we should just walk away and they will come to us.”

"There is fantastic opportunity outside Europe, there is an opportunity within in Europe, but Europe is the slowest growing area in the world, all the other areas are much fast growing."