Donald Tusk has warned British MPs that if they reject Theresa May’s withdrawal agreement, they face a choice of either no deal or no Brexit.

The European Council president sought to make clear that the deal is the “only possible one”, amid speculation that Ms May could try to either renegotiate the package or that parliament might seek a Norway-style status instead.

It comes after the Bank of England and the Treasury released data suggesting a no deal exit could lead to a savage recession in the UK, with a devastating impact on household incomes.

Speaking from the G20 summit in Argentina, Mr Tusk pointed out that the deal struck between the European Union and the UK represented an “orderly divorce.

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