BoJo readies UK for hard Brexit

Monday, 29 July 2019

Via the FT:

The UK chancellor of the exchequer, Sajid Javid, is preparing to announce more than £1bn in increased funding for a no-deal Brexit after Michael Gove, the minister in charge of no-deal preparations, said such an exit was a “very real prospect”.

A person familiar with Mr Javid’s thinking said that, while the exact figure remained unclear, the extra funding for no-deal preparations would be “over £1bn”, adding substantially to the £4.2bn allocated to no-deal planning under Philip Hammond, the previous chancellor.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.