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)
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