British PM hopeful Hunt unveils no-deal Brexit plans

Conservative party leadership contender Boris Johnson leaving his home in south London

Reuters has reported that a Jeremy Hunt government would set aside a 6 billion pound war chest to protect fishing and farming, and prepare an emergency budget to cut taxes under plans created to get Britain ready for a dramatic no-deal Brexit. - Britain's leadership contest is taking the two contenders on a month-long nationwide tour where they will each attempt to reach out to grassroots Conservatives in their bid to become prime minister. The victor, to be announced July 23, will replace Theresa May as party leader and prime minister.

Both Hunt and Johnson have said that in order to bring Brussels back to the negotiating table, the EU must believe Britain is prepared to leave the bloc without a trade deal, a prospect that would also hurt European economies.

"No-deal is obviously not my preferred destination".

"But if all you are interested in doing is saying: "All you can have is this deal", then the answer is: we will be prepared to leave on the 31st".

His plan would cancel all leave in government departments in preparation for a no-deal exit from the European Union, and slash corporate tax rates.

In a speech on Monday, Mr Hunt will try to address business concerns about the possibility of a no-deal withdrawal with measures including a £6 billion fund to protect fishing and agriculture. "If we could do it for the bankers in the financial crisis, we can do it for our fisherman, farmers and small businesses now".

He told a gathering in Westminster: "We have built up headroom - around £26 billion of headroom - which makes it possible to make the commitments I'm making today".

"When you face an economic shock, it is just basic economics that you find support for the industries that are affected", Hunt said.

"The "fiscal firepower" we have built up in case of a no-deal Brexit will only be available for extra spending if we leave with an orderly transition", Hammond wrote on Twitter.

Asked how he would pay for his plans, Johnson told reporters that "the money is there ..."

Speaking on the BBC's Andrew Marr Show, the foreign secretary said, if there is no prospect of reaching a deal that could get through parliament, he would leave on the now agreed date of October 31st because "that is our democratic promise to the British people".

Meanwhile Hilary Benn, Labour chairman of the Exiting The European Union Committee, insisted it was still possible to stop the United Kingdom crashing out of the EU, despite an attempt to shut down Government spending in the event of a no-deal Brexit appearing to have stalled.

"You can not leave the European Union on a wing and a prayer", he will say.



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