Philip Hammond refuses calls to set aside billions for Brexit saying it wouldn’t be ‘responsible’ to hoard cash

The Sun 1 month ago

PHILIP HAMMOND defied Brexit backers last night saying he would refuse to set more money aside to prepare for Britain crashing out of the EU without a deal.

The Chancellor faced calls to use spare cash from the Budget to prove that the UK is prepared for a no-deal Brexit.

Philip Hammond has refused to set aside cash for a no-deal Brexit

Eurosceptic ministers argued that showing the EU we have billions of pounds to cope with short-term economic damage gives us a stronger hand in talks on a trade deal.

But Mr Hammond last night claimed it would not be “responsible” to spend extra money on preparing for no deal before it is necessary.

He wrote in The Times: “I need 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.”

Michel Barnier is leading the EU side of Brexit negotiations

The Chancellor also repeated David Davis’ claim that Brexit talks are “the most complex peacetime operation in our history”.

But he insisted this view is “realistic” in a jab at those who accuse him of being too pessimistic.

Mr Hammond concluded by calling on British and European negotiators to work quickly to secure a deal on the post-Brexit transition, and then move on to hammering out a future trade agreement.

His defiant message prompted instant anger from some Brexiteers – Ukip MEP Patrick O’Flynn called on him to quit this morning.

The article appeared to be a riposte to two Cabinet ministers who told The Sun this week that Mr Hammond should show the EU Britain is serious about preparing for no deal by putting billions aside.

One said: “It’s straightforward – Hammond simply has to show them the colour of our money in the Budget so they know we’re for real.”

Despite the Chancellor’s comments, Theresa May revealed more details of the Government’s planning for the possibility of no deal this week as she released two white papers on how Britain could cope with the loss of free access to EU markets.

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