The UK’s Chancellor of the Exchequer, Phillip Hammond, spoke on Sky News Sunday morning ahead of his annual budget speech, slated for Monday around 15:30 GMT. Key highlights Hammond stated that the UK will need to find a new tax and spending plan, and may have no choice but to extend its current austerity measures if a Brexit deal isn’t secured soon with the European Union, despite PM May’s pronouncements of “the end of austerity” at the PM’s latest party conference speech, but the Exchequer also noted that the UK would be capable of taking whatever fiscal measures were necessary to protect the UK’s domestic economy in the event of a no-deal Brexit, though the Bank of England (BoE) may be forced by circumstances to make further changes to interest rates. Hammond neglected to say what direction Britain’s central bank would have to move rates in the event of a hard Brexit. UK PM May also instructed Hammond recently to find an additional £20 billion per year in extra spending, earmarked for vote-buying programs including adult social care, military spending, and fresh injections of cash into the UK’s welfare system, and further details will be seen at the Exchequers annual budget speech coming up later today. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD bearish below 10 and 21-D SMAs FX Street 4 years The UK's Chancellor of the Exchequer, Phillip Hammond, spoke on Sky News Sunday morning ahead of his annual budget speech, slated for Monday around 15:30 GMT. Key highlights Hammond stated that the UK will need to find a new tax and spending plan, and may have no choice but to extend its current austerity measures if a Brexit deal isn't secured soon with the European Union, despite PM May's pronouncements of "the end of austerity" at the PM's latest party conference speech, but the Exchequer also noted that the UK would be capable of taking whatever fiscal measures were necessary… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.