"We want to keep as many options open as possible so that we go into these negotiations with as much flexibility as possible, recognizing that they will be complex, they will be lengthy, and we want to be able to negotiate in good faith with our European partners to see if we can find a way of working together in the future that benefits both sides," Hammond said upon his arrival at the meeting of the EU member states' finance ministers in Brussels.
Hammond added the UK would discuss all available options but would only commit to what served the country's interests best.
"What he [David Davis, UK Conservative Party politician] said was, we would not rule out the possibility of some ongoing contribution in some form if we have an ongoing relationship, and that would be something that we have to look at," the chancellor said, when asked if the government was considering the idea of some UK sectors paying for access to the EU single market.
Since June referendum, when the majority of voters chose to leave the bloc, UK finance and business sectors have been plagued by uncertainty about the future and the ultimate impact of the withdrawal.
The balance between preferential economy deals and an immigration policy satisfying both sides is shaping up to be one of the thorniest issues at the upcoming talks between the European Union and the United Kingdom.
