Rishi Sunak is unlikely to produce an emergency Budget if there is a No Deal Brexit because the Treasury believes the support granted to firms amid Covid will soften any financial blow, it emerged last night. The Chancellor’s predecessors Sajid Javid and Philip Hammond drew up emergency plans for the eventuality, but Mr Sunak is planning a tailored support package for the worst hit areas instead. Those at risk include lamb farmers, expected to be hit hard by tariffs of more than 40 percent on exports to the continent if Britain fails to reach a substantive agreement with the EU before January 1. But Mr Sunak believes that his measures, such as the furlough scheme and business loans, are so wide-ranging and generous that an emergency Budget will not be needed, The Independent reported. Mr Sunak (pictured in London on Nov. 26) is not planning an emergency Budget in the event of a No Deal Brexit unlike his predecessors Small firms impacted by a No Deal scenario would be able to rely on Covid relief measures until at least the end of March, the Treasury’s economic forecasters have advised. The next Budget is due either in February or March meaning… Read full this story
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