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‘We should be afraid’ – Irish PM Leo Varadkar steps up warning about no deal Brexit – as it happened | Politics


If some of that is spent on things which are only needed in the event of no deal, and we don’t end up with no deal, then of course it will be wasted money. But I think we should probably see it, and the government would see it, as a form of insurance policy. If in the end it is not needed, it is not wasted, because it has at least insured us to some extent against what might happen.

The important thing is, in the context of what the impact on the public finances overall would be of a no deal Brexit, and they would be very significantly negative, as the Office of Budget Responsibility said just a couple of weeks ago, actually a couple of billion is rather little compared with the tens of billions we would probably lose as a result of a smaller economy.



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