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BIRMINGHAM, England (Reuters) – Chancellor of the Exchequer Philip Hammond said on Monday that the UK has the fiscal capacity to leave the European Union without any agreement, but
FILE PHOTO: British Chancellor Philip Hammond leaves 11 Downing Street in London on March 14, 2018. REUTERS / Toby Melville / File Photo
The exit of Britain from the European Union next March has heightened uncertainty for employers as discussions on the future of relations between the world's fifth-largest economy and its largest trading partner become more and more important. difficult.
"I am convinced that we will have the fiscal capacity to support the UK economy if we unfortunately find ourselves in a non-competition situation," he told Sky News.
However, Mr Hammond said that doubts about the future have already hit the economy and that the next few weeks would be crucial for reaching an agreement with the EU.
"It's undeniable that people want to reach an agreement with the UK. People want to minimize the disruption of the UK's departure from the European Union, they want to continue to maintain a relationship with us and a smoother business partnership in the future, "he told BBC TV.
"It is clear that the uncertainty created by the Brexit process has hurt the economy. Many companies are anxious to see the outcome of these negotiations before confirming their investment plans. "
Mr. Hammond's speech at his party's Monday conference will be the central theme of Mr. Hammond's speech to the Conservatives.
The business community has expressed frustration at the government's lack of clarity during the Brexit process and at what some see as a decision to put ideology ahead of the economy.
"We support business, as a pillar of a prosperous economy, as a force for good in our society and as an essential expression of our values," Hammond said in his speech at the annual Party conference conservative in Birmingham.
British Chambers of Commerce have said they want the Conservatives to overcome their internal divisions and "provide concrete and practical answers to current business questions about Brexit – and avoid a disorderly and disorderly exit from the EU".
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Relations suffered at the beginning of the year when then-foreign minister Boris Johnson allegedly criticized business leaders over Brexit, using foul language, at a meeting with European diplomats .
Johnson, the favorite of bookmakers to succeed May, has become a cheerleader for extremist supporters of the conservative Brexit Party who have denounced his so-called "Checkers" proposals and presented his own plans for an alternative free trade agreement .
Hammond said Johnson's idea was not proposed by the EU.
"Checkers offers an intermediate solution to the center, making the most of both models and offering a way forward that respects the British people's mandate in the referendum, but also protects British jobs and British companies. , "He told Sky News.
Last week, the Labor Party of the British opposition sought to attract business leaders as it unveiled a series of radical economic policies, claiming that the Conservatives had given them the opportunity to present an alternative left-wing strategy. .
Although Brexit dominates political discussions, polls suggest it is lagging behind the National Health Service, Britain's biggest concern, and Hammond said people should pay more taxes to fund additional investments.
"The Prime Minister has been very clear and very honest with the public: if we want a growing NHS in the future to support our aging population, we will have to accept a little more tax to fund this service", did he declare.
Other reports by Guy Faulconbridge and Michael Holden in London; Edited by Janet Lawrence
