The probability of the U.K. leaving the European Union without a deal is “very small,” according to Philip Hammond, Britain’s chancellor of the exchequer.

Analysts and investors have raised the probability of a no-deal Brexit since Prime Minister Theresa May announced last month that she would step down. May officially resigned as leader of the Conservative Party on Friday, but remains prime minister until her party elects a new chief.

“Very small — that’s the key message,” Hammond said when asked about the likelihood of a no-deal Brexit happening.

“The key thing to remember is that Britain is a parliamentary democracy, and there is a clear majority in Parliament against a no-deal exit. Parliament will ensure, in my view, that that does not happen,” he said.