Hammond won't budget now for a 'no-deal' Brexit – Times


(Reuters) – Britain’s Chancellor Philip Hammond believes it would be irresponsible to spend taxpayers’ money now in preparation for a “no-deal” exit from the European Union, the Times reported.

Hammond will not commit billions of pounds in next month’s budget to plan for a hard Brexit, the newspaper said.

He supports contingency planning in case talks collapse. However, with the government trying to secure a negotiated EU exit and with money tight, he is reluctant to approve spending unless the danger is imminent, Times said.

Responding to claims that he is pessimistic in his outlook, the chancellor said he has a duty to be “realistic”.

Hammond said in the Times that he needs “to ensure that we are prepared for all outcomes, including a no-deal scenario”.

“The government and the Treasury are prepared. We are planning for every outcome and we will find any necessary funding and we will only spend it when it’s responsible to do so”, he added.

Reporting by Sangameswaran S in Bengaluru

Source link

Articles You May Like

Putin says Trump can claim 'fairly serious achievements' in first year
Camera a Sud, come essere bravi a rispolverare il genere swing
Reggia Caserta, crollano calcinacci da un controsoffitto
La California spera in una tregua sul fronte del fuoco
Nuove accuse per Spacey: palpeggiò membro Casa reale norvegese

Leave a Reply

Your email address will not be published. Required fields are marked *