U.K.'s Hammond Sounds Alarm on No-Deal Brexit

The transcript discusses the challenges and potential consequences of a no-deal Brexit, emphasizing the economic disruptions it could cause. It highlights the government's preparedness plans, including financial system resilience and border mitigations. The text also covers fiscal and monetary policy interventions, noting their temporary nature and the need for careful calibration to avoid inflation. The conclusion stresses that there is no simple solution to avoid the negative impacts of a no-deal Brexit.

What is the primary reason the speaker believes a deal is necessary for Brexit?

• To maintain political relationships with the EU

• To increase trade tariffs

• To avoid economic disruption and protect jobs

• To reduce immigration

What is one of the measures the government has taken to prepare for a no-deal Brexit?

• Increasing taxes on imports

• Expanding the military presence at borders

• Minimizing disruption to the financial system

• Reducing public spending

How has the government planned to address border issues in a no-deal scenario?

• By negotiating new trade deals

• By closing all borders temporarily

• By implementing mitigations at the border

• By increasing border patrols

What does the speaker suggest about the effectiveness of fiscal and monetary interventions in a no-deal Brexit?

• They can only provide temporary relief

• They are unnecessary

• They will completely prevent economic downturn

• They will lead to a larger economy

What is the speaker's view on the idea of a simple solution to avoid the consequences of a no-deal Brexit?

• It is the preferred government strategy

• It is a viable option

• It is a misconception

• It is supported by evidence