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Spring Statement: Govt releases Brexit spending plans

Europe-European-Flags-EU-700.jpgThe Government has outlined where it is allocating more than £1.5bn in Brexit preparation funding to departments and administrations for 2018/19.

Winners include the Home Office and the Department for Environment, Food and Rural Affairs which will be receiving the largest allocation of the funds, at £395m and £310m respectively.

With £300,000 allocations, the Scotland Office and Wales Office are receiving the lowest funding arrangements, slightly under the £400,000 administered to the Northern Ireland office.

Spring Statement: UK GDP revised up for 2018

Presenting the 2018 Spring Statement today, Chancellor Philip Hammond said: “Since the Budget we have made substantial progress in our negotiations with the European Union to deliver a Brexit that supports British jobs, businesses and prosperity. I look forward to another important step forward at the European Council next week. We will continue to prepare for all eventualities.”

Also among the departments with the highest funding allocations are HM Revenue & Customs (£260m) and the Department for Business, Energy and Industrial Strategy (£185m).

The Competition and Markets Authority, which oversees business and economic strength outside the UK has been allocated just £23.6m in funding, while the Department for Digital, Culture, Media and Sport will be receiving £26.2m.

Spring Statement: Inflation to return to target

For the Foreign & Commonwealth Office, responsible for the UK’s overseas interests and citizens, £29.6m will be provided, while the government is allocating the Department of Transport £75.8m, slightly more than the £74m it has set aside for the Department for International Trade.

A written statement from the government says it is still “committed to seeking a new future economic partnership with the European Union” and will make final Brexit budget allocations at the Supplementary Estimates early next year.



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