Budget 2020: 'Baseline scenario' is no-deal Brexit at end of transition period

'All necessary funding' to prepare

The "baseline scenario" for the UK to end the implementation period of exiting the European Union is to leave "without a future relationship being agreed with the EU", according to today's (11 March) Budget.

HM Treasury has ensured that "all necessary funding" will be made available to prepare for such an outcome and has outlined an additional £14.6bn of funding to be made available by 2024-25 as a result of "direct Brexit fiscal savings". Bank of England cuts interest rates by 50 basis points The Government will also retain the right to choose to participate in "certain" EU programmes where it is "in the UK's interests" and the contributions are "fair and appropriate". A Financial Services bill is featured on page 100 of the Budget, which seeks to provide "long-term market access betw...