Farmers will be “looked after” in the event of a no-deal Brexit, Jacob Rees-Mogg, the new leader of the House of Commons, has said.

He made the pledge to address farmers’ fears they will suffer from the European Union imposing tariffs on EU countries importing meat from the UK.

Currently, as members of the EU’s single market and customs union, lamb exports, for example, do not face import taxes. But without a deal, lamb products could face tariffs of more than 40%.

Mr Rees-Mogg said: “The Prime Minister has already said if that happens, then any farmers who are affected by tariffs from the EU will be looked after.

“It’s worth remembering that if the EU were to put tariffs on to sheep meat imports into the EU that would put up their cost of lamb by 20%, so they’d be cutting off their nose to spite their face.”