By Esmée Hardwick-Slack
Philip Hammond has revealed on the BBC’s Marr Show that a no-deal Brexit would require a “different response” with “fiscal buffers” being maintained to provide support for the economy. The Chancellor said: “if the economy as the result of a no deal Brexit, or indeed because of something else that we haven’t anticipated, needs support over the coming months and years, I have the capacity to provide that support.”
However, Hammond feels confident that an agreement will be met, stating: “Once we get a good deal from the European Union and the smooth exit from the EU, we will be able to show the British people that fruits of their hard work are now at last in sight.”
When questioned about the impact of a no-deal Brexit, Mr Hammond said: “We would need to look at a different strategy and frankly we’d need to have a new Budget that set out a different strategy for the future.”
When asked about the Prime Minister’s promise “an end to austerity”, Hammond said detailed information would have to wait for next year’s spending review.
“Once we get a good deal from the European Union and the smooth exit from the EU we will be able to show the British people that the fruits of their hard work are now at last in sight.”
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