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Budget 2018: Hammond ups Brexit budget by £500m

Chancellor Philip Hammond has increased Brexit preparation funding by another £500m in the 2018 Budget today.

After allocating an initial £2.2bn to a new Brexit preparations department, Hammond noted said in last year’s Budget that a further £1.5bn for the purposes in last year’s budget.

Today he announced that figure will rise to £2.0bn.

Hanmond says he is confident the government will deliver a favourable Brexit deal, however he says he “will continue to plan for all eventualities”.

He added that a “double dividend” could come from releasing more funds from reserves and more investment could come on stream after uncertainty.

Hammond says the government is planning a full departmental spending review next year, and that, once EU negotiations are finalised, a Brexit “deal dividend will allow us to provide further funding for the spending review.”

Hammond says: “The hard work of the British people is paying off. Austerity is coming to an end.”


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There are 4 comments at the moment, we would love to hear your opinion too.

  1. £2.7 billion to fund something that practically half the electorate didn’t want. Ah! Democracy at work.

    • ‘Something that practically half the electorate didn’t want?’ No. More like one third of the electorate. Almost one third did not express a view in the referendum.

      £2.7 billion to to fund something that just over 51% of those who voted wanted. THAT’S democracy!

    • Harry, answer me these three questions please.
      1. Bearing in mind everything that has happened since the first referendum in 1975, do you accept that for many people (on both sides of the result) the 2016 question was really a choice between accepting increasing federalism or not?
      2. If the vote has been the other way, what should have been done to placate the losing ‘Leavers’ – or, as many commentators seem to imply, they should be ignored as they “didn’t understand the implications”?

      3. Can you confirm that, should we have a third referendum on membership, we could rejoin on exactly the same terms we had on 22 June 2016? You see, if not, then we have the prospect of losing our veto on issues which could unfairly penalise us, our rebate and possibly having to agree to join the euro at some point – with Italy’s current problems perhaps that’s a probability. Remainers are very quiet on this and I would suggest that terms of any re-entry are absolutely clarified first.

  2. £2.7 billion to fund something that more than half of the electorate did want. That’s democracy!

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