Acknowledging the lack of progress towards a deal, Boris Johnson said that Britain must “get ready” for trading on World Trade Organisation (WTO) terms from January 1.

The Prime Minister reiterated that there are “some serious and very, very difficult issues” remaining to be resolved, while insisting that his negotiating team “will not walk away.”

Asked whether Labour would vote for a deal if one were achieved, Mr Miliband said that his party would be “minded to support it.”