Money Philip Hammond refuses to fund preparations for a no-deal Brexit

08:26  12 october  2017
08:26  12 october  2017 Source:   msn.com

Nobody is unsackable, says Hammond amid Johnson ‘disloyalty’ accusations

  Nobody is unsackable, says Hammond amid Johnson ‘disloyalty’ accusations The Chancellor has sent a thinly veiled warning to the Foreign Secretary.Mr Hammond affirmed his “100% support” for the Prime Minister and denied reports that he had sent a 4am text to Mr Johnson on the night of the general election offering him his support for the leadership.

LONDON — Philip Hammond has said that it would be irresponsible for the UK government to start spending money on planning for a " no - deal " Brexit and that it is the May also refused several times to say how she would vote in a re -run of the EU referendum, telling host Iain Dale that she doesn't

CHANCELLOR Philip Hammond has spoken for the first time since revealing he will refuse to budget for a ' no deal ' over Brexit . Philip Hammond denied being unprepared for a no deal .

Philip Hammond © Provided by Business Insider UK Philip Hammond

LONDON — Philip Hammond has said that it would be irresponsible for the UK government to start spending money on planning for a "no-deal" Brexit and that it is the government's "duty" to reach a deal with the European Union.

In an article for the Times newspaper, the Chancellor said that he will not be announcing measures to get ready for no-deal in the budget next month, in a move that will likely anger those in favour of a hard Brexit in the cabinet.

Hammond said: "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."

Prankster hands British PM unemployment notice

  Prankster hands British PM unemployment notice British Prime Minister Theresa May's speech at her Conservative Party's annual conference on Wednesday was interrupted by a serial prankster handing her an unemployment notice -- and then by her own repeated coughing. Comedian Lee Nelson, whose real name is Simon Brodkin, walked up to the stage and gave May the form, known in Britain by its reference code P45.He claimed Foreign Secretary Boris Johnson, who has clashed with May over Brexit, told him to do it."Boris said in one of those corridor meetings: 'Give Theresa this'.

Mr Hammond said the Treasury has already released £250m from the current reserves to help departments carry out early limited preparations for a no - deal Brexit scenario. The Treasury has said the funds are earmarked for the Department for Environment, Food & Rural Affairs, the Home Office

Philip Hammond at the IMF annual meeting in Washington. Photograph: Yuri Gripas/Reuters. The chancellor said he had already spent more than £500m on Brexit preparations and that more resources would be This is Deal or No Deal , Tory style. The prize is a cliff-edge Brexit . Marina Hyde.

This follows Prime Minister Theresa May saying "we don't know what's going to happen" in a no-deal scenario for EU citizens in the United Kingdom after March 2019, during a phone-in on LBC radio on Tuesday afternoon.

May also refused several times to say how she would vote in a re-run of the EU referendum, telling host Iain Dale that she doesn't answer "hypothetical questions."

Watch: May refuses to answer if she'd vote for Brexit today (LBC)

In his article, Hammond said the main challenge of Brexit is "uncertainty" and the only way to combat this is to agree a "time-limited implementation period" and also by "reaching a deal."

He said: "A good deal is not just in the best interest of Britain, but Europe too.

"As the prime minister said in Florence, securing such a deal is our duty 'not just for people today but for the next generation who will inherit the world we leave them'."

‘Two-thirds’ of Hammond’s £26bn Budget war chest faces wipeout

  ‘Two-thirds’ of Hammond’s £26bn Budget war chest faces wipeout Philip Hammond is facing what officials describe as “a bloodbath” in the public finances in his Budget next month as weak economic forecasts derail the government’s plans. As much as two-thirds of the £26bn of headroom in the public finances that the chancellor created last year as a buffer for the economy through the Brexit period is likely to be wiped out after the government’s fiscal watchdog concludes its forecasts for growth have been too optimistic.

Chancellor of the Exchequer Philip Hammond is refusing to provide funds to prepare Britain for a ‘ No Deal ’ scenario after Brexit , raising suspicions that ‘ No Deal ’ Brexit would require some advance preparations , however, with increased personnel to handle customs and immigration, tweaks to the

Preparations for a “ no deal ’ Brexit have been plunged into further confusion after the Chancellor said it would be irresponsible to start spending billions of pounds now. Philip Hammond is refusing to open up the Treasury coffers yet

The chancellor has come under fire from Conservative MPs for allegedly "deliberately" making Brexit difficult and has faced calls to stand down as chancellor.

In a retort to an anonymous cabinet minister who called him "miserable," Hammond said it is his "duty to be realistic" about the challenges of Brexit.

He also made it clear that the UK would leave the customs union and single market in March 2019, when the country leaves the EU.

Hammond will appear in front of MPs on Wednesday morning at the Treasury select committee.

European Council President Donald Tusk has warned that if there wasn't progress in Brexit talks in the next few weeks, there could be the potential for no-deal.

The European Council of the EU27 leaders will meet next Thursday to decide on whether "sufficient progress" has been made in negotiations to allow them to advance onto discussing the future UK-EU relationship.

Tusk said: "We are negotiating in good faith, and we still hope that the so-called ‘sufficient progress’ will be possible by December. 

"However, if it turns out that the talks continue at a slow pace, and that sufficient progress hasn’t been reached, then, together with our UK friends, we will have to think about where we are heading."

Hammond called on the EU to "adopt a more flexible and creative approach" in order to allow negotiations to progress.

Borrowing fall delivers boost for Hammond .
Chancellor Philip Hammond has received a boost ahead of next month's Budget as public sector borrowing in September fell to its lowest in ten years. The borrowing figure of £5.9bn - which excludes the impact of bank bail-outs - was 11%, or £700m, lower than the same month last year - and beat the £6.5bn reading expected by economists.It was the lowest monthly deficit for September since 2007, before the financial crisis took hold.

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