Hammond: No Cash For No Deal “Until the Very Last Moment”

Only a few bombs dropped by Hammond at the Treasury select committee this morning. The Chancellor said he wouldn’t spend cash on preparing for no deal “until the very last moment”, which is winding up Brexiters no end.

“I don’t believe we should be in the business of making potentially nugatory expenditure until the very last moment when we need to do so.”

He raised the issue of air traffic unprompted, saying it was unlikely flights would be grounded in the event of no deal but admitting it is “theoretically possible”, which he knows will grab headlines. And he said the lack of progress during the negotiation was causing a “cloud of uncertainty” over the economy. Carefully and cleverly worded by Hammond to both slap down Brexiters and get anti-no deal headlines in Remain papers…

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