Autumn Budget: Govt sets aside £3bn for Brexit

Chancellor Philip Hammond has said the UK will set aside £3bn over the next two years in preparation for its exit from the European Union.

Delivering the Autumn Budget today, Hammond said the Government had already invested £700m in preparation for the UK leaving the 28-nation block in March 2019.

He added that for the next two years the Government has unlocked an extra £3bn in funding.

As the UK prepares for its future outside the EU, Hammond said the Government will “express its resolve to look forwards not backwards” in next year’s Budget.

Hammond said: “The negotiations are in a critical phase. I am clear that one of the biggest boost to businesses and families is to make good progress [in the negotiations]. We want to make sure the country is prepared.

“We choose to run towards change, not away from it, to prepare our people to meet the challenges ahead, not to hide from them.”