UK Allocates another £ 2bn to Brexit

HM Treasury (UK government's economic and finance ministry) will add £ 2bn (€ 2.2bn) to its 2020/2021 spending plan to fund Brexit preparations. This was announced by Finance Minister Sajid Javid's office last night, cited by AFP.

Following this announcement, which becomes official on today's budget presentation, the amount in the overall EU exit package will exceed £ 8.3 billion (€ 9.1 billion). The additional funds will go to border police and ports, the BTA informs.

Ireland, meanwhile, has announced that it is embarking on a new phase in its preparations for Brexit without an agreement and called on businesses to increase their readiness for such a development, Reuters reported, citing the government.

"The government was this evening briefed on the latest position on Brexit negotiations between the EU and UK, and in that context, noted the increasing risk of a no-deal Brexit on October 31," a government statement said.

"The government also noted that a number of exercises are planned for the coming weeks to help further refine preparations and inform the approach to emergency crisis management in the event of a no deal Brexit,"a statement quoted by Reuters said.