Politics

Budget reaction from the City: Hammond is ‘David throwing pebbles at Goliath’

Chancellor pledges an extra £3bn for Brexit preparations — but UK growth forecasts have already been downgraded

Budget reaction from the City: Hammond is ‘David throwing pebbles at Goliath’
Photo: Getty Images

Chancellor of the Exchequer Philip Hammond has delivered his 2017 budget to parliament, pledging to spend an additional £3bn on helping the country prepare for every Brexit eventuality — but UK growth forecasts have been downgraded.

Hammond said Prime Minister Theresa May's government had so far spent £700m-plus on getting the UK ready for Brexit and its impact, and was committed to maintaining the "deep and special relationship" with Europe.

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