Cameron seemed pretty clear on the action in the event of no deal:-
You'd love the context - the pound will go down, inflation will go up, it will affect the car industry...
But he was a Remainer. Give me a clip of a Leaver saying we'd leave without a deal. I know Farage said (in response to the Cameron interview) that leaving would be worth the Treasury's no-deal scenario of a £45bn a year hit to the economy but then he was lying about how we'd do other deals with the rest of the world.
That's what I'm talking about. Remainers talking about the horror of No Deal and Leavers playing it down. E.g. Lord O'Donnell on the risk of not being able to negotiate a deal within the two years of article 50 and Dominic Raab responding that the UK was the fifth biggest economy in the world and a key export market for the EU: "Of course we'd strike a new deal, and relatively soon, with transitional arrangements if necessary."
This sort of stuff is even in Hansard (May 2016) with Cameron being quizzed in committee and Crispin Blunt playing down going to WTO tariffs.
Cameron: If you take the Crispin Blunt approach and say “Okay, we’ll leave our relationship with Europe, we’ll go to WTO rules, we’ll negotiate with the rest of the world,” you would face massive tariffs and huge dislocation for your economy. I think it would actually be economically much worse than the Norway option.
Crispin Blunt: You would face WTO terms, but I think massive tariffs is something of an exaggeration—another Aunt Sally that should be disposed of.
.Mr Cameron: It is not an Aunt Sally, because they are there for everyone to see.