[ad_1]
The Chancellor promised to "take a new direction" and use "tax buffers" to revive the economy in case of hard Brexit, as it revealed that it would unveil Plan B if the Britain collapsed out of the EU deal on the eve of its 2018 budget
He said: "If, as a result of a Brexit without agreement, or because of something unexpected, we need support in the months and years to come, I would like to see you again. have the ability to provide it. "
May's spokeswoman echoed her remarks by promising an "economic intervention" in case of non-Brexit.
READ MORE: Budget Overview 2018: What will Hammond say in his last budget before Brexit?
A Downing Street official said: "The Chancellor has repeatedly spoken of maintaining what he would call" fiscal power "that he will be able to use in case of a" no agreement "scenario.
"What the Chancellor pointed out about a budget, is that if economic circumstances changed, he would consider economic interventions – that's what you expect from any sensible chancellor."
Philip Hammond insisted that this was not the expected result and that he remained confident that an agreement would be reached with Brussels on the eve of his speech, which should constitute his final budget before that Britain leaves the EU.
READ MORE: BREXIT LIVE
2018 Budget Live: Philip Hammond to Unveil Budget This Afternoon (Image: GETTY)
Chancellor Philip Hammond promised to "embark on a new direction"
He said: "Once we get a good agreement from the European Union and the EU exit is smooth, we can show the British people that the fruits of their Hard work is finally within sight.
Hammond is also facing a negative reaction following new plans to increase national insurance for thousands of self-employed people.
It is intended to target people who create private businesses, which allows them to avoid paying national insurance contributions, according to sources.
The Treasury predicts that it could miss up to 1.2 billion pounds a year of tax payments by 2023 because people pay taxes as if they were workers. independent, according to The Sun.
After weeks of unrest around Brexit, Conservative MPs rely on the Chancellor to boost party morale with his annual accounts.
Hammond is expected to respond to Premier Theresa May's statement in her Conservative Party speech that the era of austerity will finally come to an end with cautious the public expenditure exchange.
The Chancellor will visit the House of Commons with an estimated gain of 13 billion pounds sterling, thanks to better-than-expected government borrowing.
It is expected that he will announce additional funds for roads – with an investment program of £ 28.8 billion on the highways – broadband, social services and armed forces, as well help for small retailers.
The additional funds allocated to mental health will be used to fund the provision of support services in all major A & E departments, as well as new specialized ambulances and school-based mental health teams.
Follow Express.co.uk for live updates on the 2018 budget below
Update from 1:11 pm: DUP says it will support Hammond's budget for 2018
But the North Irish party that supports May warned that it could oppose the government in the future if an agreement on Brexit indicated that Northern Ireland should be treated differently from the rest of the UK.
Sammy Wilson, spokesperson of the Democratic Union Democratic Party at Brexit, told the BBC: "To date, we have not yet seen the result of the withdrawal agreement, so it would be foolhardy on our part to oppose the budget on the basis of something we have not seen.
"However, they should not take for granted simply because they have adopted the budget that they can do what they want with Northern Ireland."
2018 Budget Live: Liz Truss arrives at Downing Street (Image: GETTY)
Update from 13:01: The remnants quickly mocked the government's plan to introduce a new 50-pif coin to mark the day Britain left the EU
Labor MP Wes Streeting and leftist actor David Schneider both said that the same 50% of the people in the US Post-Brexit would correspond to a £ 1 coin after Brexit.
Meanwhile, Twitter user @OlafFalafel tweeted an image taken from a photo of the play featuring Dad's Army soldier Frazer and Lance Corporal Jones, as well as their famous slogans "we are doomed" and "do not panic".
Jono Read, a New European anti-Brexit journalist took the tone a little lower, with a picture of emoji poo.
Keith Burge tweeted: "I think a commemorative 50p coin is quite appropriate, each of the seven sides representing a different interpretation of what Brexit was meant to mean."
Lord Adonis, activist for the maintenance of the law on the Rest, says that "it's repulsive, like a commemorative piece Suez or the Munich Agreement".
Update of 12:19 pm: Several members of Theres May's firm arrived at Downing Street
Liam Fox, Liz Truss, Jeremy Hunt, Andrea Leadsom, Esther McVey, Matt Hancock, Dominic Raab and Gavin Williamson were photographed outside the number 10
Budget 2018 live: Liam Fox was photographed outside the number 10 (Image: GETTY)
Update 11:29: The spokesperson from May said that the spending commitments defined in the budget would be funded regardless of the Brexit agreement
The spokesman for the Prime Minister said that economic interventions would be taken into account if the economic situation changed.
The spokesman said Philip Hammond would be able to release "fiscal power" during an "economic intervention" aimed at reviving the economy in case of Brexit without agreement.
When asked if Mrs May was in agreement with the Chancellor on the fact that an emergency budget might be needed in the spring when there had been not agree, the spokesman for the prime minister said: "What the Chancellor said yesterday is that it would use budget reserves work and sound economic management for that Great Britain succeed whatever the circumstances.
"The Chancellor has repeatedly referred to the maintenance of what he would call" fiscal power "that he could use in case of a scenario" without agreement "."
He added: "What the Chancellor pointed out with regard to a budget is that if economic circumstances change, he would consider economic interventions.That is what you expect from a budget. Sincerely Chancellor. "
To the question of whether the end of austerity was contingent on getting a good agreement on Brexit, the prime minister's spokesman said: "We have made it clear that the People had to know that their efforts had borne fruit and that the austerity that had followed the financial crash had begun an end.
"That's why we focus on the results, regardless of Brexit, starting with the current budget, which blocks the progress we have made and directs us to the expenditure review, in which we will define our approach. long-term.
"All the spending commitments announced today by the Chancellor are funded regardless of any agreement."
Updated 11:08: Hammond to unveil new Brexit coin
The chancellor will announce the striking of a special 50pc coin commemorating the UK's victory after leaving the European Union in her annual budget speech, presented later.
The coin will be available on March 29 at 11 pm, Brexit Day.
In May this year, several Conservative MPs, including former Foreign Secretary Boris Johnson, wrote to the Treasury asking for a coin depicting the "monumental moment of British history".
In order to convey a positive message to the rest of the world, it is thought that the play bears the phrase "Friendship with all nations".
Budget 2018 live: Liz Truss hailed the success of the autumn budget (Image: TWITTER / LIZ TRUSS)
10:59 update: Workers will be able to pool their money in a Dutch pension plan
Plans will be approved if a government plan to revive the failed UK retirement savings system gets the green light.
Chancellor Philip Hammond will announce a consultation on the Dutch regime in today's autumn budget, which would be the first group savings plan to be implemented in the UK.
According to the Dutch approach, individuals would contribute to a group pot instead of each worker having his own plan.
The pooling is halfway between a defined benefit plan and a defined contribution plan.
Update 10:17: The budget is hailed as "a positive budget that gives everyone the chance to succeed"
Chief Treasury Secretary Liz Truss tweeted a photo of her ministerial file next to a cup of coffee and said, "It's a sort of double morning espresso.
"Later in the day, we will present a positive, forward-looking budget that will give everyone a chance to succeed."
Update 09:06: The pound slightly exceeded the two-month lows on Monday as traders geared up for the annual budget speech
The currency fell 0.1% to 1.2817 dollars, close to the two-month low of 1.2777 dollars hit last week.
Against the euro, the pound sterling is traded at 88.880 pence for one euro.
Sterling traders will also focus on the Bank of England's monetary policy meeting on Thursday.
Budget 2018 live: Hammond faces a negative reaction to its plans to hit the self-employed (Image: GETTY)
8:58 update: Additional funding for the national health system described in the budget will not be affected by an uncompromising Brexit scenario
Health Secretary Matt Hancock has issued an optimistic note, stating on BBC Radio 4's Today show: "The additional £ 20 billion for the NHS will arrive.
"We will see that in figures today, regardless of the agreement we have on Brexit.
"Now, I think we're going to do a good job on Brexit."
Update 8:27 am: Jacob Rees-Mogg urges that it be considered to remove tariffs on imported products to signal that Brexit Britain is "open to the world"
Tory Brexiteer suggested that this decision would provide potential trading partners with evidence that the UK will be a "world nation" immediately after Brexit.
The member for Brexiteer urged the Chancellor to include plans on how Britain would exchange under the terms of the World Trade Organization (WTO) in case of failed negotiations with the European Union.
2018 Budget Live: Hammond will have to use a Plan B in the event of a Brexit without agreement (Image: GETTY)
Update at 8:08: the SNP warns about the uncompromising Brexit "absolute nightmare" before the autumn budget
SNP deputy leader, Westminster, Kirsty Blackman, accused the Conservative government of being "too focused on negotiating with itself," arguing that companies lacked certainty and confidence in Premier's ability to conclude an agreement within five months of departure from the United Kingdom. .
Sending to the Press Association, Blackman, spokeswoman for the party for the economy, said: "Companies are implementing their plan B, some of them are about to implement their C plan … we are so close to Brexit and no one is sure of anything. "
She added: "People are not happy with the state of the negotiations, they are not particularly unconfirmed that it exists and I do not think we can do it. confidence in Theresa May's abilities to do this. "
Updated at 8:21 am Hammond will announce a £ 60 million pledge to plant more trees in order to help preserve the country's environment.
English green spaces will receive an increase of several million pounds in the Chancellor's budget.
Two pots of money will be unveiled, including £ 10 million for the purchase of new trees in the streets and urban areas, to which will be added financial contributions from local authorities, community groups and local authorities. of charities, announced the Treasury.
In addition, up to £ 50 million will be available for the purchase of carbon credits from landowners who are planting eligible forests, which is expected to create 10 million new trees over the next 30 years. next few years, the ministry added.
It follows the government's launch of the 25-year environmental plan early in the year.
Update 8:03 AM: There are five things to watch when Hammond presents his budget plans in the House of Commons
The NHS: Theresa May has already announced an increase of £ 20 billion a year for the national health service in England over the next five years, suggesting that taxpayers will have to contribute "a bit more" to fund it.
However, the ministers have not yet specified exactly where the money would come from. Mr. Hammond has been credited with a gain of some £ 13 billion due to higher than expected borrowing rates, which has eased some of the pressure to increase taxes. However, his statement will be closely monitored to see where he decides to apply the pain.
Pension tax relief: A goal for the Chancellor seeking to raise funds could be tax breaks on retirement savings that benefit millions of high and middle-income earners.
Mr. Hammond hinted that he had them in view at the recent IMF meeting in Bali, when he called the cost of 39 billion pounds a year for the Treasury "very expensive" . However, such a decision is likely to face stiff opposition from conservative backbenchers. While the party is feverish after Brexit, dare you risk another clash?
Universal credit: In addition, Conservative MPs are increasingly reluctant to face the imminent deployment of CUs, while some of their less fortunate voters may be plunged into real trouble.
The Chancellor said she was ready to find additional funds to ease the transition, but will that be enough to satisfy critics who demand an additional $ 2 billion?
Digital tax: Mr Hammond stressed the need for internet giants such as Facebook and Google to pay their "fair share" of UK tax.
S & # 39; s recognizes that concerted international action is the best way to make them cough, he expressed frustration at the slow progress in reaching an agreement. Will he now say that the time has come for the United Kingdom to go it alone?
Defense: The Chancellor has been involved in a series of clashes with Defense Secretary Gavin Williamson over funding for the Armed Forces, but recently, things seem to have calmed down on that front.
A long – term settlement will have to wait for spending reviews next year, but Conservative MPs hope it will find short – term money to help them.
