British PM hopeful Hunt unveils no-deal Brexit plans

Posted July 04, 2019

However, a Boris Johnson campaign source said on Sunday: "There'll be no change to the Barnett formula if Boris wins the leadership of the Conservative & Unionist Party and becomes prime minister".

But the health secretary's rhetoric has also hardened in recent days on his determination to leave without a deal if necessary to make Brexit happen.

Mr Lamont, Mr Hunt's campaign manager in Scotland for his bid to become prime minister, said: "I'm pleased that despite what Mr Johnson has said in the past about reviewing the special funding arrangements for Scotland, he has now apparently U-turned on this policy".

Ballot papers will be issued to Conservative party members from later this week in the contest between Boris Johnson and Mr Hunt.

The Foreign Secretary also pledged cuts to corporation tax at an estimated cost of £13bn per year in the short term and an increase in defence spending to cost an additional £15bn in four years' time.

Hammond said in March he had almost 27 billion pounds ($34 billion) in fiscal headroom - or the difference between the target he has set himself for the budget deficit and how big Britain's budget forecaster think the shortfall will be.

WATCH: Hunt criticised for saying he would back no-deal Brexit even if it leads to job losses While Johnson has said we must "do or die" by leaving on October 31, Hunt said he would delay Brexit if a deal was on the horizon, saying he would only take the country out without a deal with a "heavy heart". "That no-deal Brexit is not going to be an opportunity for them to successfully turn the screws on our country".

Keen to play up his "detailed" plans for both a no deal Brexit and for leaving with an agreement, Hunt said he would try to renegotiate a deal with the European Union over the summer and in earnest in September, giving himself a "hard deadline" for the end of September to decide whether he could get an agreement or not.

He told Newsnight: "When you get to the moment when Parliament is actually looking at this, then I believe the House of Commons will act, because I am still of the view that there is not a majority in Parliament for a no-deal Brexit".

The government would also channel £6 billion ($7.6 billion, 6.7 billion euros) to industries most threatened by a no-deal Brexit.

"I will mark my ballot for Jeremy Hunt".

"We spent just over £1 trillion bailing out the banks after the financial crisis, so if we did it for the bankers then why wouldn't we do what is needed for our fishermen and our farmers?", he said.

"I will mitigate the impact of no-deal Brexit on [businesses] and step in to help smooth those short-term difficulties", he will say during the speech in London.

Mr Johnson has said he would fund his plans partly with the so-called no-deal "war chest" set aside by current chancellor Philip Hammond.