London — UK chancellor of the exchequer Philip Hammond said he will start releasing more money to help the government prepare for a "no deal" Brexit if there aren’t clear signs of progress in talks with the EU by early 2018. "There will be some areas where we need to start spending money in the new year if we can’t tell ourselves we’re moving steadily and pretty assuredly towards a transition agreement," Hammond told the UK’s parliament’s treasury committee on Wednesday. He earlier pushed back at the suggestion that he should release cash now: "Some are urging me to spend money to show the EU we mean business. I think the EU knows we mean business."
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.