No one really knows cost of no-deal Brexit: sajid Javid

U.K.’s New Brexit Deal Gambit May Emerge as Early as WeekMore

U.K.’s New Brexit Deal Gambit May Emerge as Early as WeekMore

Speaking at a Conservative Party conference dominated by Britain's planned exit from the European Union, Javid will try to shift the focus to what he called "The People's Priorities" -issues the party believes matter more to voters in the long run.

It will mean 4 million workers earning increase to 10.50 pounds (12.9 USA dollars) an hour, with pay rates matching two-thirds of median salaries across the country.

Sterling plunged after the Brexit referendum in June 2016 and is widely expected to slide again if Johnson takes Britain out of the European Union on October 31 without a transition deal, something he says he is prepared to do despite efforts by parliament to stop him.

"And shouldn't the minister who is responsible for overseeing the risk to our economy stand up to the prime minister and tell him how inappropriate it is for any candidate for prime ministerial office or any party to accept funds from individuals speculating on the potentially enormous risk to our economy from no-deal Brexit?".

He estimated the move would benefit 4 million people.

After almost a decade of deficit-reducing spending cuts under a Conservative-led government, the recently appointed Javid has promised to rewrite the rules that underpin spending.

Britain is not scheduled to hold an election until 2022, but one is expected in the coming months.

The new framework is expected to allow higher levels of state-funded infrastructure investment.

"Yes, we can do it", he said. Johnson's Conservatives have lost their majority in parliament and divisions over Brexit are paralysing policymaking.

Britain´s finance minister on Monday said he did not think "anyone really knows" what a no-deal Brexit would cost the economy.

"The legislation that parliament has passed, of course, has made things more hard, but we are clear our own policy is completely unchanged: We will be leaving on the 31st", Javid said.

"Of course, every government should observe all laws at all times".

Javid also anticipated that the United Kingdom could take advantage of record low interest rates to borrow to invest in infrastructure.

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