Jeremy Hunt has sworn a £6bn no-deal Brexit war chest to protect the livelihood of farmers and fishers.
Source: Jersey Evening Post

Jeremy Hunt has sworn a £6bn no-deal Brexit war chest to protect the livelihood of farmers and fishers. For many political pundits across the world, this comes as a stimulus package for farming and fishing and resembles the 2008 financial bail-out. If the UK does not come to an agreement with Brussels, the Tory leadership hopefully will lay out his plans soon. Interestingly, in contrast to his rival Boris Johnson’s perform or perish approach, Hunt says he prefers to walk away with a deal in hand so that commoners don’t suffer.

The prospect of the Cobra-style committee

If elected as the Prime Minister of the UK, Hunt would form a cobra-style committee so that he can render a much-needed boost to the Whitehall preparations. He would also make sure that Britain holds a no deal budget as well so that it can be open to foreign investments. Moreover, he would also ensure the formation of a national logistics committee so that Britain would ever be opened for trade negotiations from foreign lands. This augurs well from the commercial and economic perspective of Britain.

His recent speech would reveal more secrets on this stimulus package

In a recent statement which would be held soon, the MP would portray how his stimulus package is going to transform the lives of farmers and the fishermen. In case, the UK has to comply as per the trade policies of the World Trade Organization; this stimulus package is quite vital. In a recent interaction, Hunt cited various examples which depicted the positive side of this stimulus package. On a further note, he added that those associated with the agriculture sector in Britain would face uncertainty if the UK decides to leave the EU without a deal.

Mitigating the impact of no-deal Brexit

With the help of the £6bn war chest, Jeremy Hunt would reduce the effects that can emancipate from the no-deal Brexit. He also referred to the 2008 financial crisis in England and further added that if Britain can do it for the financial sector, then Britain can do the same thing for its farmers, fishermen and small-scale industries. It is important here to note that the US president has offered similar support packages to the farmers in America where they have been severely affected by the Chinese tariffs.

Reduction in corporate tax

A no-deal Brexit budget would ensure that there is a slash in the corporate tax. It would be slashed to 12.5 percent, thereby increasing the annual allowance to £5 million. This would ultimately take 90 percent of the high street businesses out of the rates. For many political experts, the determination of Hunt to leave with a deal is a good sign. It would also make sure that Britain has a fully independent trade policy.

Meanwhile, the outgoing Prime Minister, Theresa May has suggested that the approach of Boris Johnson is not the right approach. May reiterated her stand on getting the deal through the parliament.