LONDON, November 22. /TASS/. Brexit may not happen if the UK parliament does not approve the withdrawal agreement between the UK and the EU, Chancellor of the Exchequer Philip Hammond told ITV channel on Wednesday.

"If the deal is not approved by parliament, we will have a politically chaotic situation ... In that chaos that would ensue, there may be no Brexit," Hammond said adding that "a smooth exit from the European Union, doing this in an orderly fashion, is worth tens of billions of pounds to our economy."

UK Prime Minister Theresa May will return to Brussels on Saturday to try to reach consensus on the conditions of UK's withdrawal from the EU ahead of the EU emergency summit scheduled for November 25.

On November 14, the UK cabinet of ministers approved a draft withdrawal agreement between the UK and the EU which needs to be approved at the EU summit along with the political declaration. In order for the agreement to enter into force, the deal needs to be approved by both the European Parliament and UK lawmakers.