Treasury: Brexit

HM Treasury written question – answered on 8th December 2017.

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Photo of Matthew Pennycook Matthew Pennycook Shadow Minister (Exiting the European Union)

To ask Mr Chancellor of the Exchequer, what recent estimate he has made of the additional funding required by (a) his Department and (b) HM Revenue and Customs) over the next two years to prepare effectively for the UK leaving the EU.

Photo of Elizabeth Truss Elizabeth Truss The Chief Secretary to the Treasury

As announced at Autumn Budget 2017, HMT is making £3 billion of additional funding available over the next two years - £1.5 billion in both 18/19 and 19/20 – so that departments and the Devolved Administrations can continue to prepare effectively for Brexit. HMT is working to understand what each department needs to prepare effectively, and what additional funding should be supplied – HM Treasury will aim to agree 2018/19 allocations in early 2018. Departments’ funding requirements for 19/20 will be affected by progress in negotiations with the EU and will therefore be decided at a later date. Additional funding received from the Reserve will be set out at Supplementary Estimates in the usual way.

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