Philip Hammond rejects calls for cash to be set aside for 'no deal' Brexit
Philip Hammond has said he will not set aside any money in the Budget for a 'no deal' Brexit.
The Chancellor said that his job was only to spend when it was "responsible" to do so.
His remarks are liable to disappoint some colleagues who want to see more preparation for the UK leaving the EU without a withdrawal agreement.
Writing in the Times this morning, Mr Hammond said: "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 also stressed the importance of reaching agreement on both the length of a transition period and a future trading relationship between Britain and the EU.
He said uncertainty over the future has "impacted businesses up and down the country", with investment in the UK slowing as a result.
"Our immediate priority must be to remove this uncertainty," he said. "
"We will do that in two ways. First, by securing agreement on a time-limited implementation period — this is vital to give businesses and people the space to prepare for the future.
"Second, by reaching a deal on the terms of our future long-term relationship with the EU."
MAY REFUSES REFERENDUM QUESTION
Theresa May last night declined to answer whether she would vote Leave if there were another referendum.
Pressed repeatedly on what her decision might be, she told LBC Radio: "I don't answer hypothetical questions.
"I'm being open and honest with you. What I did last time round was I looked at everything and I came to a judgement and I would do exactly the same this time round."
But her deputy Damian Green, who was on the board of the Stronger In campaign, told Newsnight it would have been better if Remain had won.
"Nobody fought harder than me for Remain. So I don't resile from my views," the First Secretary said.
"But it is a slightly silly question, because there's not going to be another referendum."
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