Jacob Rees-Mogg says we MUST spend £350m Brexit dividend on NHS as he warns Philip Hammond he’ll be ‘disappointed’ with a cautious Budget

JACOB REES-MOGG today called for the NHS to get a £350million-a-week boost from Brexit – and warned Philip Hammond he'll be "disappointed" if the Budget is not radical.

The Tory rising star claimed that Britain will get a £135billion windfall from quitting the EU as he laid out his vision for next week's Budget.


He insisted that one part of the Government's preparations for Brexit must be spending £350million more per week on the NHS, as promised during the referendum campaign.

Mr Rees-Mogg said: "The electors believe a promise was made. We promised £350million for the NHS, so we must deliver it."

The backbencher was launching a report alongside the Economists for Free Trade group saying quitting the bloc will be “overwhelmingly positive” for the economy – as long as the Government adopts the right policies.

The findings are sharply at odds with most mainstream economists – but Mr Rees-Mogg said during its launch this morning this official forecasts are based on "false assumptions" of the Treasury.

And the prominent Leave supporter says the outlook for the public finances is "much better" than the Office for Budget Responsibility is predicting.

He urged Philip Hammond to double the Treasury's spending to £500million on preparations for Britain quitting the EU without a trade deal.

And a further £2billion contingency fund should also be set up to ensure the Government can withstand any unexpected financial turbulence.

Mr Rees-Mogg summarised his demands for Britain's post Brexit economy as free trade, lower taxes and a bonfire of the red tape that controls businesses.

Asked by The Sun if he was disappointed in the Chancellor's downbeat approach to the public finances so far, he replied: "I'm going to send him a copy of this speech.

"I'm not disappointed – but perhaps I will be disappointed if he doesn't act on it."

His intervention comes as several of his fellow Brexiteers have become concerned Mr Hammond is pushing for a softer Brexit – including Cabinet ministers Boris Johnson and Michael Gove.

The EFT – headed by Professor Patrick Minford – says the priority for the Government should be to bring down trade barriers with the rest of the world once Britain has left the EU while reducing the burden of regulation and taxation on firms and individuals.

It argues a "dynamic stimulus from classic free trade" combined with continued restraint in public spending could provide "post-Brexit fiscal freedom" worth £135billion between 2020 and 2025.

With a further £4 billion a year from 2025 – including £10billion a year saved by no longer having to pay into EU budgets.

In his speech, Mr Rees-Mogg said: "This is a free trade approach that focuses on consumers, not producers; one that will generate gains to consumers seven times the cost to producers.

"This is a classical view of the world that has economic history and the latest economic modelling on its side.

"This is a free trade approach to Government which believes Britain's greatest days lie before it and not behind it."

He said the report's recommendations would lead to an intensification of competition in the UK economy, resulting in a stronger performance than the latest OBR forecasts are expected to show when they are released alongside the Budget on November 22.

The report was backed by Liam Fox's Department for International Trade, who promoted it in a Twitter message.

But the department promptly deleted the tweet after being accused of violating Government policy by publicly supporting the independent forecast.

Source: https://www.thesun.co.uk/news/4909458/jacob-rees-mogg-says-brexit-will-give-britain-a-135bn-windfall-as-he-launches-his-own-budget-for-leaving-the-eu/

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