Brexit

(asked on 25th September 2019) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps the Government is taking to avoid a recession in the event that the UK leaves the EU without a deal.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 3rd October 2019

The Government’s preference is to leave the EU with a deal and is working in an energetic and determined way to get that deal. The Government has been stepping up preparations for leaving the EU. We have made more than £8 billion available to prepare for EU Exit since the referendum, including £2.1 billion specifically for No Deal planning.

The fundamentals of the British economy are strong – wages are growing at the fastest rate in over a decade, employment is at a joint record high and the unemployment rate is at its lowest in over 40 years. If the UK leaves the EU without a deal, we will be ready, and HM Treasury will be ready to support the economy if needed.

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