The Chancellor up before the Treasury Select Committee

  • IMF gorwth forecasts reflect how we are being affected by Brexit talks uncertainty
  • There’s plenty of anecdotal evidence that businesses and consumers are waiting to see the direction of Brexit
  • The UK economy is fudamentally robust but has a cloud of uncertainty over it
  • We need to remove that clooud as soon as possible
  • UK does have an underlying fundamental problem with productivity growth (as the OBR stressed yesterday)
  • Is ready to spend for a no deal when necessary
  • We have to be prepared for a no deal scenario, unless and until we have evidence that that is not where we’ll end up
  • Does not propose to allocate Brexit funds to depts before spending is needed
  • Money spent on customs border with EU would be money that could not be spent on public services (spin spin spin)
Ryan Littlestone

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