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Reuters

Britain on Friday denied it was preparing an emergency budget just hours after a junior minister said a stimulatory spending plan was due in the autumn as Prime Minister Boris Johnson braces for a potential no-deal Brexit.
Johnson took office on Wednesday pledging to do a new Brexit deal with the European Union but also to ramp up no-deal preparations. He has announced a raft of spending pledges, including increasing police numbers by 20,000 to help cut crime.
After a junior interior minister responsible for policing, Kit Malthouse, said Johnson had announced there was to be an emergency budget in the autumn, the prime minister’s spokesman said there were no plans for one.
“There are no plans to do so,” Johnson’s spokesman said when asked if Britain would be holding an emergency budget.
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“Fiscal events, as you know, are announced by the Treasury.”
Johnson has not announced an emergency budget. The finance ministry, known as the Treasury, said it was up to Sajid Javid, the finance minister whose official title is Chancellor of the Exchequer, to announce fiscal events.




Typically an autumn budget takes places between late October and early December.
If Johnson is unable to convince the European Union to do a new Brexit deal and lawmakers try to prevent a no-deal exit then there is speculation that he could call an election.
Johnson, who made more than 30 billion pounds (US$37 billion) worth of spending commitments during his leadership campaign, said on Thursday his pledges had been modest “so far”.
He has said that spending could be financed using the 27 billion pound “fiscal headroom”, an amount of extra borrowing possible without breaking a budget deficit cap of two per cent of GDP introduced by former finance minister Philip Hammond.
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Javid said during his failed bid to lead the Conservative Party that he would prepare for a no-deal Brexit with an emergency budget that would include tax cuts for businesses and individuals.
Before he was appointed to the post Javid said he wanted to cut tax for the lowest earners but would also consider scrapping the top rate of income tax, if he thought it would inject more dynamism into the economy.
“The prime minister has also announced there’s going to be an emergency budget in the autumn which will be designed to stimulate the economy,” Malthouse told Sky News.
“What you hope is that a more strongly growing economy will produce greater tax revenue, which we can pay for some of the things that we want to do,” he said.
Malthouse said a pledge to boost police numbers would cost about 500 million pounds (US$622 million) in the first year.

Malthouse said “there’s certainly headroom in the finances.”
Meanwhile, Amelie de Montchalin, state minister for European affairs, said President Emmanuel Macron would hold Brexit-related talks with Johnson in France in the coming weeks.
She said there was no question of renegotiating the divorce deal agreed between Johnson’s predecessor and the European Union, but that the two sides still had much to talk about.
“What is still to negotiate is the future relationship,” Montchalin said. “We have to create a working relationship and not get into games, gestures and provocations.”


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Britain

Britain denies emergency budget as Boris Johnson braces for no-deal Brexit

British Prime Minister Boris Johnson makes his first statement in the House of Commons on Thursday. Photo: Xinhua

Newly appointed Britain's Chancellor of the Exchequer Sajid Javid is seen outside Downing Street in London, Britain July 25, 2019. REUTERS/Henry Nicholls

New British PM Boris Johnson’s ruthless purge of enemies before moving into No 10 Downing St

UK PM Boris Johnson waves outside 10 Downing Street in London. Photo: AFP

Larry, the Downing Street cat, sits outside the front door of 10 Downing Street in London on July 10, 2019. (Photo by Tolga Akmen / AFP)

epa07737748 Britain's Queen Elizabeth II welcomes newly elected leader of the Conservative party Boris Johnson during an audience in Buckingham Palace, London, Britain, 24 July 2019 where she invited him to become Prime Minister and form a new government. Former London mayor and foreign secretary Boris Johnson is taking over the post after his election as party leader was announced the previous day. Theresa May stepped down as British Prime Minister following her resignation as Conservative Party leader on 07 June. EPA-EFE/VICTORIA JONES / POOL

epa07737559 Carrie Symonds (C), girlfriend of British Prime Minister Boris Johnson, and staff wait for his arrival at Downing Street following his appointment by the Queen in London, Britain, 24 July 2019. Former London mayor and foreign secretary Boris Johnson is taking over the post after his election as party leader was announced the previous day. Theresa May stepped down as British Prime Minister following her resignation as Conservative Party leader on 07 June. EPA-EFE/VICKIE FLORES

epa07737843 Prime Minister Boris Johnson is clapped into 10 Downing Street central London, Britain, 24 July 2019 by staff after seeing Queen Elizabeth II and accepting her invitation to become Prime Minister and form a new government. Former London mayor and foreign secretary Boris Johnson is taking over the post after his election as party leader was announced the previous day. Theresa May stepped down as British Prime Minister following her resignation as Conservative Party leader on 07 June. EPA-EFE/Stefan Rousseau / POOL

epa07738443 Chancellor of the Exchequer Sajid Javid leaves as British Prime Minister Boris Johnson begins his new term at Downing Street in London, Britain, 24 July 2019. Theresa May stepped down as British Prime Minister following her resignation as Conservative Party leader on 07 June. Former London mayor and foreign secretary Boris Johnson is taking over the post after he was election as Tories party leader was announced the previous day. EPA-EFE/Hollie Adams

A video grab from footage broadcast by the UK Parliament's Parliamentary Recording Unit (PRU) shows Dominic Cummings, head of the Vote Leave campaign during the EU referendum, giving evidence to a session of the Treasury Committee at the Houses of Parliament in London on April 20, 2016 - Incoming British prime minister Boris Johnson will bring in Dominic Cummings, the controversial head of the 2016 Brexit campaign, as a senior adviser, a source close to Johnson said on July 24, 2019. (Photo by HO / PRU / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT " AFP PHOTO / PRU " - NO USE FOR ENTERTAINMENT, SATIRICAL, MARKETING OR ADVERTISING CAMPAIGNS

Britain’s PM Boris Johnson holds his first Cabinet meeting at 10 Downing Street in London. Photo: AFP

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Britain’s new Prime Minister Boris Johnson at 10 Downing Street. Photo: AFP

Britain's outgoing prime minister Theresa May, (L), accompanied by her husband Philip, gestures after making a speech outside 10 Downing street in London on July 24, 2019 before formally tendering her resignation at Buckingham Palace. - Theresa May is set to formally resign on July 24 after taking her final PMQs in the House of Commons with Boris Johnson taking charge at 10 Downing Street on a mission to deliver Brexit by October 31 with or without a deal. (Photo by Ben STANSALL / AFP)

Queen Elizabeth welcomes Boris Johnson during an audience in Buckingham Palace. Photo: Reuters

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After a junior minister said Johnson had announced there was to be an emergency budget in the autumn, the PM’s spokesman said there were no plans for one
France said there was no question of renegotiating the divorce deal, but that the two sides still had much to talk about


After a junior minister said Johnson had announced there was to be an emergency budget in the autumn, the PM’s spokesman said there were no plans for one.


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