October 11, 2017 / 9:15 AM / 10 months ago

UK preparing for no deal, but no spend on contingency arrangements yet -Hammond

LONDON, Oct 11 (Reuters) - Britain is planning for all possible Brexit outcomes, including a ‘no deal’ scenario, but will not give government departments money to spend on contingency arrangements yet, finance minister Philip Hammond said on Wednesday.

“I am clear that we have to be prepared for a no deal scenario unless and until we have clear evidence that that is not where we will end up,” Hammond told a parliamentary committee.

“What I am not proposing to do is to allocate funds to departments in advance of the need to spend ... 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.” (Reporting by William James; Editing by Catherine Evans)

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