Menu
Tue, 19 March 2024

Newsletter sign-up

Subscribe now
The House Live All
By Jill Rutter
Brexit
Economy
Economy
By Lord Lamont of Lerwick
Economy
Creating prosperity and growth: the importance of innovation in the UK economy Partner content
By Mastercard
Economy
Press releases

Budget 2017: Hammond announces £3bn more for Brexit preparations over next two years

Liz Bates

2 min read

The Government will set aside an extra £3bn over the next two years to prepare for Brexit, including a possible ‘no deal’ scenario, Philip Hammond has announced.


The new money comes on top of £700m already allocated, with the Chancellor indicating he is prepared to offer more cash if necessary.

Delivering his key Budget statement this afternoon, Mr Hammond struck a positive tone, having faced a barrage of criticism from his own Tory colleagues over his attitude to Brexit.

“We have already invested almost £700 million in Brexit preparations,” he told MPs.

“And today I am setting aside over the next two years another £3 billion. And I stand ready to allocate further sums if and when needed. No one should doubt our resolve.“

Pro-Remain MPs piled into the Chancellor:

 

 

 

 

 

 

 

‘TOP PRIORITY’

Mr Hammond also stressed the importance of getting early agreement on the implementation period set out by Theresa May in her Florence speech in September.

“As Chancellor, I am clear that one of the biggest boosts we can provide to businesses and families, one of the best ways to protect British jobs and prosperity as we build that new future, is to make early progress in delivering my Right Honourable Friend’s vision with an implementation agreement that allows businesses to plan and invest with confidence.

“And this government will make the pursuit of that progress a top priority in the weeks ahead," he said. 

PoliticsHome Newsletters

PoliticsHome provides the most comprehensive coverage of UK politics anywhere on the web, offering high quality original reporting and analysis: Subscribe

Read the most recent article written by Liz Bates - Jeremy Corbyn admits he would rather see a Brexit deal than a second referendum

Categories

Brexit Economy
Podcast
Engineering a Better World

The Engineering a Better World podcast series from The House magazine and the IET is back for series two! New host Jonn Elledge discusses with parliamentarians and industry experts how technology and engineering can provide policy solutions to our changing world.

NEW SERIES - Listen now