UK allocates further £2.1 billion for no-deal Brexit planning
The UK said it will spend an extra £2.1 billion to stockpile medicines and hire more border officers in preparation of a no-deal Brexit.
The UK Government has allocated an additional £2.1 billion to cover the cost of stockpiling medicines, hiring new border officers and cover other related costs associated with a no-deal Brexit.
The allocation of funds was made by the new Chancellor of the Exchequer minister Sajid Javid, who said that the UK economy remained strong enough to handle a no-deal Brexit.
‘A lot of the work was going on but (what) we needed to do was turbo charge it to make sure we are properly, genuinely ready,’ Javid said.
Irish backstop must be abolished, says Boris Johnson
Earlier this week, Johnson told his counterpart in Ireland, Leo Varadkar, that the UK will leave the European Union on October 31 ‘no matter what’ and that the Irish backstop must be scrapped in any new deal.
‘We have been clear we want to get a deal, but it has to be a different deal, a good deal, one that abolishes this undemocratic backstop, and if we cannot remove that backstop then we have to leave with no deal,’ Javid said.
Labour condemns no-deal Brexit spending plan
The main opposition Labour party has labelled the Brexit spending plan as an ‘appalling waste of taxpayers’ cash’ because most UK lawmakers have vowed to block Britain bailing out of the bloc without a deal.
‘This government could have ruled out no deal, and spent these billions on our schools, hospitals, and people,’ Labour’s Shadow Chancellor of the Exchequer John McDonnell said.
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Trading around Brexit
Find out how the UK’s exit from the EU continues to affect traders, and discover:
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