No deal Brexit is ‘extremely unlikely’ however UK budget has to take it in consideration

An emergency budget would have to be drawn up if the UK leaves the EU without a deal, Philip Hammond has said. The chancellor admitted he would have to “look at a different strategy” if talks with Brussels fail to produce a breakthrough.

SkyNews reports that Hammond suggested that could mean the government changing its promise that the end of austerity is “in sight”.

Speaking ahead of budget announcement, Mr Hammond said that it was “extremely unlikely” there would be a “no deal” divorce. “Of course we have to prepare and plan for all eventualities as any prudent government would,” he said.

“If we were to find ourselves in that situation then we would need to take a different approach to the future of Britain’s economy.

“We would need to look at a different strategy and frankly we’d need to have a new budget that set out a different strategy for the future.”

Sky News