PHILIP Hammond must double the Treasury’s spending on preparations for Britain quitting the EU without a trade deal, Jacob Rees-Mogg will say.
The Chancellor will be urged to use next week’s Budget to hike the amount of taxpayer’s cash earmarked for investment in new border controls and other measures to get the country ready for independence from Brussels to £500million.
A further £2billion contingency fund should also be set up to ensure the Government can withstand any unexpected financial turbulence, he will be told.
And Mr Hammond is also expected to come under pressure to hit a far more optimistic tone about the UK’s economic prospects outside the EU when he delivers the financial statement to the Commons.
Senior Tory Jacob Rees-Mogg will sound the call for an ambitious Budget for Brexit in a speech today marking the launch of a report from the pressure group Economists for Free Trade.
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