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UK Economics

Brexiteer ministers demand BILLIONS from Chancellor to prepare for ‘no deal’ Brexit

PRO-Brexit Cabinet members are reportedly demanding BILLIONS be set aside by the Treasury in preparation for the real possibility of a ‘no deal’ scenario when the UK splits from the European Union.

A pair of senior ministers are said to be frustrated with the Government’s “failure to be ready to call the EU’s bluff if exit deal talks fail”, with one putting the odds of walking away without a deal as high as “50 per cent”.This comes amid reports of a growing rift in Theresa May’s Cabinet, with disagreement between senior figures over the Government’s approach to Brexit.

The Prime Minister upped the stakes in the negotiations with the EU last night when she announced the UK would become an “independent trading nation” if the stalled divorce talks ultimately failed.

Proposals for new a new trade policy and customs rules were revealed in two “white paper” documents, which the Government says it could quickly implement if negotiations with the EU break down.

Cabinet minister

But the pair of unnamed ministers are reportedly unhappy Treasury chiefs and Chancellor Philip Hammond are refusing to commit any cash to back up the proposals.Included in the ‘no deal’ white papers are a new customs system, complete with a new computer system to run it, as well as the formation of UK-based regulator groups which would oversee everything from banking to nuclear power.

Mrs May told MPs yesterday: “While I believe it’s profoundly in all our interests for the negotiation to succeed, it is also our responsibility to prepare for every eventuality and that is exactly what we are doing.”

She added “real and tangible progress” was being made in the negotiations.

GETTY

Pro-Brexit ministers have reportedly urged the Treasury to set aside BILLIONS for a ‘no deal’ Brexit


But one of the senior ministers told The Sun: “Since the election, the system has fallen into inertia.“No proper leadership means departments have stopped preparing for no deal, and they are using our lack of a majority as an excuse.

“It is killing our negotiating hand, as the EU is watching us very carefully and they can see just how little we’re doing too.

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

Theresa May updating ParliamentPA

Theresa May updated MPs on the Government’s Brexit progress yesterday


The Treasury confirmed to The Sun no money has been set aside for a ‘no deal’ scenario and argued it would be wrong to waste taxpayer cash setting up the new systems if the UK came away with a good Brexit deal.A spokesman said: “A responsible Government should prepare for all potential outcomes including the unlikely scenario in which no mutually satisfactory agreement can be reached.

“That is exactly what we are doing across the whole of Government.”

https://www.express.co.uk/news/uk/864529/brexit-no-deal-ministers-demand-billions-latest-news

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2 Comments on "Brexiteer ministers demand BILLIONS from Chancellor to prepare for ‘no deal’ Brexit"

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brexit121
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Time for May to go and the transition period abolished. I am not being funny, but the vote to leave the eu was in the summer of 2016. It was around a year later we signed article 50 and if businesses cant be ready to leave at the end of 3 years transition period of May’s delaying tactics and article 50, perhaps they should not be in business.

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