Economic news

UK reserves 3 billion pounds to prepare for Brexit

The UK Finance Minister Philip Hammond said Britain has reserved 3 billion pounds sterling (about $4 billion) for preparations for Brexit including leaving the EU without a deal.

According to Hammond, the government has already invested about 700 million pounds ($925 million) to prepare for Brexit.

The negotiations on the withdrawal of the UK from the EU, namely - the terms of departure - have begun June 19 this year and will continue until November next year. After that, within six months, the parties will ratify the reached agreements.

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