Budget 2018: Chancellor warns of emergency Budget in 'no-deal Brexit' scenario

'Double deal dividend'

Hannah Godfrey
clock • 1 min read

Chancellor Philip Hammond has warned there will be an emergency budget in the event of a no-deal Brexit on 29 March.

Speaking in the House of Commons on 29 October, the chancellor of the Exchequer said if the UK left the EU without a deal he would be willing to upgrate the spring Statement into a "full fiscal event" if need be. In an interview with Sky's Sophy Ridge on Sunday, Hammond had said the proposals being announced on Monday were based on the assumption there would be a Brexit deal - and, if that turned out to be wrong, there would have to be an emergency Budget. Earlier this morning, however, the Mirror's live Budget blog reported number 10 issued a statement contradicting Hammond's claims,...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA Asks: Has demand for IHT mitigation risen at your firm?

PA Asks: Has demand for IHT mitigation risen at your firm?

This week’s poll also looks at the role of MPS and paperless operations

Professional Adviser
clock 25 March 2024 • 1 min read
FCA urged to prioritise a 'common sense' approach

FCA urged to prioritise a 'common sense' approach

Last week’s PA Asks poll highlights industry’s thoughts on the FCA

Sahar Nazir
clock 25 March 2024 • 2 min read
Advisers overlooking younger clients over asset value bias

Advisers overlooking younger clients over asset value bias

'Young people need to have access to trusted advice'

Sahar Nazir
clock 22 March 2024 • 1 min read