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UK's Johnson says impact of no-deal Brexit would be very, very small

FILE PHOTO - Boris Johnson, a leadership candidate for Britain's Conservative Party, visits the Polhill Garden Centre near Halstead in Kent, Britain, July 1, 2019. Stefan Rousseau/Pool via REUTERS

LONDON (Reuters) - Boris Johnson, the favorite to become Britain’s next prime minister, said on Monday the impact of leaving the European Union without a deal would be “very, very small”, and added that he had a very carefully costed program of spending plans.

“There is as you know about 26 billion quids (pounds) worth of headroom. The money is there,” Johnson told reporters when asked about his spending proposals.

“We also think there is room to make some sensible tax cuts as well and we will be doing that too.”

The former foreign minister repeated his message that he did not think Britain would leave the European Union without agreement, but that there were many ways to mitigate the effect of a no-deal Brexit and its impact would be “very, very small”.

Johnson also said there needed to be decent pay in a properly-funded public sector.

Reporting by Michael Holden; editing by Kate Holton