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There's a new slogan for Brexit...

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Picture: Getty/edited by indy100

During his last Autumn Statement, Chancellor of the Exchequer Philip Hammond conceded that Brexit will blow a £59 billion black hole in public finances.

The Office for Budget Responsibility (OBR) announced at the time that there would be a cumulative £122 billion of extra borrowing over the next five years, £59 billion of which will occur as a direct result of the vote to leave the EU.

Hammond told the House of Commons:

[Brexit] makes more urgent than ever the need to tackle our economy’s long-term weaknesses, like the productivity gap, the housing challenge, and the damaging imbalance in economic growth and prosperity across our country.

The reaction to the £58.7 billion news was predictable.

 

 

 

One line stuck out above all:

 

 

So we did.

 

And we weren't the only ones:

 

The NHS was mentioned twice in the statement:

The government, Mr Speaker, has pledged to invest in our NHS and we are delivering on that promise: backing the NHS’ Five Year Forward View plan for the future with £10 billion of additional funding a year by the end of 2020-21.

The Health Select Committee has said that the government's extra funding for health is actually £4.5 billion rather than £10 billion, and FullFact agrees with their conclusion:

Overall health spending will increase by £4.5 billion, after you take inflation into account. The £10 billion includes an extra year of spending and only refers to the NHS England budget rather than wider health spending.

The £10 billion figure is calculated over six years, counting a year's worth of money that has already been spent in a previous parliament.

Brexit means Brexit.


More: The Tories stole their big Autumn Statement idea frrom Ed Miliband

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