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LONDON, Oct. 30-- The latest budget unveiled by British Chancellor of the Exchequer Philip Hammond saw him give away 20 billion pounds worth of extras, a decision which could lead to much higher borrowing in the future if there is an unfavorable Brexit, a leading expert warned on Tuesday afternoon. Paul Johnson, director of the Institute for Fiscal Studies (IFS) in London, told a press conference: "Mr Hammond is willing to gamble on the public finances. Because yesterday's Budget was a bit of a gamble." Johnson outlined in a separate newspaper article for London's Evening Standard that the figures behind Hammond's Monday Budget, which saw him spend lavishly on healthcare, would "go out of the window" in the event of a British exit from the European Union (EU) with no deal over trade and tariffs. This so-called Chaotic Brexit would be triggered if the EU and Britain fail to make progress in talks on a separation treaty. The primary stumbling block is the nature of the trade and tariff border between EU member state Ireland and Britain's Northern Ireland, the only land border between the two sides. The prospect of a chaotic Brexit would have an immediate effect on the British economy, which would then be hit by increased costs from the hard border between Britain and the EU, which is Britain's largest single export market.This would damage government income. Johnson said: ""Suppose the public finance forecasts deteriorate significantly next year. They might. There's perhaps a one in three chance of that. What will Hammond do then? | 
