Budget 2018 reaction: Impact of 'potentially disruptive Brexit' key takeaway

Additional £2bn for Brexit preparations

Jayna Rana
clock • 3 min read

Negative Brexit developments were the main talking point following today's Budget, although industry commentators remained relatively sanguine on the Chancellor of the Exchequer's speech.

Following Chancellor Philip Hammond's speech today (29 October) Silvia Dall'Angelo, senior economist at Hermes Investment Management, noted the Chancellor "pointed to the constraints of a potentially disruptive Brexit next year." He said: "While he still thinks negative Brexit developments bear a low probability, he earmarked an additional £2bn for Brexit preparations and said that he would retain the £15bn (around 0.7% GDP) rainy day fund in order to deploy it in a no-deal scenario, if needed." Budget 2018: Hammond targets tech giants with digital services tax Focusing on the bond...

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