July 1, 2019 / 10:10 AM / 3 months ago

Hammond warns PM contenders over post-Brexit spending promises

FILE PHOTO: British Chancellor of the Exchequer Philip Hammond delivers a speech at the annual Mansion House dinner in London, Britain June 20, 2019. REUTERS/Simon Dawson

LONDON (Reuters) - British finance minister Philip Hammond challenged the two contenders seeking to become the country’s next prime minister over their promises to use existing room for manoeuvre in the government post-Brexit budget plans to increase public spending.

“The ‘fiscal firepower’ we have built up in case of a no-deal Brexit will only be available for extra spending if we leave with an orderly transition,” Hammond said on Twitter.

“If not it will all be needed to plug the hole a no-deal Brexit will make in the public finances.”

Writing by William Schomberg; editing by Michael Holden

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