MPs have dismissed the chancellor’s forecast of a Brexit “deal dividend” of lower taxes and higher spending.

The Treasury Committee said it was “not credible” to describe any resultant economic boost from a Brexit deal as a “dividend”.

In their report on the 2018 Budget, MPs said what was being talked about was “avoiding something really very bad”.

They also said the government’s aim of eliminating the budget deficit had “no credibility” and should be abandoned.

Committee chair

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