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Budget: Govt sets aside £3bn for Brexit


Chancellor Philip Hammond has said the UK will set aside £3bn over the next two years to prepare for Brexit.

Delivering the Autumn Budget today, Hammond said the Government had already invested £700m in preparation for the UK leaving Europe in in March 2019.

He added that for the next two years the Government has unlocked an extra £3bn in funding.

As the UK prepares for its future outside the EU, Hammond said the Government will “express its resolve to look forwards not backwards” in next year’s Budget.

Hammond said: “The negotiations are in a critical phase. I am clear that one of the biggest boost to businesses and families is to make good progress [in the negotiations]. We want to make sure the country is prepared.

“We choose to run towards change, not away from it, to prepare our people to meet the challenges ahead, not to hide from them.”


Chancellor, budget

Budget: 100% council tax premium on empty homes

The Chancellor has unveiled plans to let local authorities charge a 100 per cent council tax premium on empty properties. Philip Hammond, delivering the Autumn Budget today, says “It cannot be right to leave properties empty when so many are desperate for a place to live.’ He said Government will bring in new laws to […]


FCA draws up plans for Brexit workload

The FCA’s contingency plans for dealing with Brexit are starting to take shape. The regulator has released minutes from a board meeting confirming that it has set up six different work streams within the organisation as a way of internally coping with the work that will come from the UK pulling out of the EU. […]


Brexit negotiations could harm industry, trade body warns

Brexit negotiations could harm the property finance industry, a trade body is warning. ASTL, which represents lenders of bridging loans and short-term mortgages, says the government is putting “political points above the needs of the country”. As Brexit negotiations and inter-party rows continue, industry experts are concerned about the implications for the industry. ASTL chief […]


Neptune video: Abenomics: the impetus for Japan’s fast-track recovery?

The remarkable performance of the TOPIX over the past year has caused many sceptical equity investors to look again at the Japanese market. These returns have come despite very significant problems facing the Japanese economy. Chris Taylor, manager of the Neptune Japan Opportunities Fund, discusses these problems and whether Abenomics will be able to overcome them, enabling the market to continue to rise.

In the video, Taylor addresses the following:

• The size and speed of Japan’s unprecedented monetary policy
• Abenomics and the implications should it fail
• Corporate Japan and beneficiaries of government policy


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