Brexiteers Fume At UK Finance Minister Hammond’s ‘No Deal’ Warning

One America News Network | 7/2/2018 | Staff
brunodeuce44brunodeuce44 (Posted by) Level 3
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LONDON (Reuters) – British finance minister Philip Hammond came under renewed criticism from pro-Brexit lawmakers on Friday for warning that leaving the European Union without an exit deal would hit public finances, underlining discord in the ruling Conservative Party.

Hammond, seen as one of the most pro-EU members of Prime Minister Theresa May’s cabinet, has long been a target for the so-called Brexiteers who say the finance ministry is too pessimistic about Britain’s future outside the EU.

Letter - Thursday - Hammond - Forecasts - Department

In a letter published on Thursday, Hammond referred to forecasts made by his department in January, highlighting that under a no-deal scenario, borrowing would be about 80 billion pounds a year ($102.02 billion) higher in 15 years’ time as the economy grew more slowly.

He also outlined specific sectors and regions that would be hit particularly hard.

Letter - Response - Leader - Group - Lawmakers

The letter provoked an angry response from the leader of an influential group of pro-Brexit lawmakers within May’s Conservative Party, who said the forecasts were wrong and a no-deal Brexit would not be as damaging as Hammond was predicting.

“The fact is that...
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