UK's Javid announces extra 2 billion pounds for Brexit spending

LONDON (Reuters) - British finance minister Sajid Javid will on Wednesday announce an extra 2 billion pounds ($2.5 billion) of funding for Brexit-related spending by government departments after Britain is due to leave the European Union on Oct. 31.

The finance ministry said the new money would bring the total funding for Brexit preparedness to 8.3 billion pounds since the 2016 referendum decision to leave the EU.

The new money will be directed toward Brexit projects involving the Border Force, support for ports and money for exploring a British satellite navigation system, the Treasury said in a statement.

“This new funding will ensure that departments can grasp the opportunities created by Brexit after we leave on Oct. 31,” Javid said.

Javid, in his first major speech since taking over the public purse strings in July, will promise more money for “the people's priorities” - education, health and the police - after a decade of tight spending controls that has frustrated voters.

Javid is expected to present his spending round at around 1200 GMT.