‘Dire’ UK budget puts aside €3bn Brexit extra
Sterling seesawed and UK housebuilding shares slid yesterday after a UK budget statement that was seen by investors as bleak but not dramatically changing the outlook for the UK’s Brexit-bound economy.
The UK slashed its economic growth forecasts and expects to borrow a lot more going into the next decade, Chancellor Philip Hammond said, but he nonetheless plans to spend more in the next couple of years to offset the impact of Brexit. In a rebuff to his Brexit critics, Hammond earmarked an extra £3bn (€3.4bn) to ready the UK for leaving the EU.
