Hammond: No spending to prepare for 'No Deal' until last possible point

Chancellor Philip Hammond has admitted that he will not commit any funding to prepare for a ‘No Deal’ scenario until the “last point”, he has told the Treasury Committee.

The Remoaning Hammond insisted: “What I am not proposing to do is to allocate funds to departments in advance of the need to spend.”

He instead insists that his approach is based on No Deal preparations at the “last point at which spending can begin to ensure that we are ready for a day one no deal scenario and that’s when we should start spending hard-earned taxpayers’ money”.

Refusing to allocate funds for Brexit without a deal with the EU until the very last moment is a stupid decision which only weakens the UK’s hand in negotiations. It also means, if No Deal does happen, then Britain’s core institutions won’t be ready.