Britain said it is ramping up preparations for a no-deal Brexit by spending an extra 2.1 billion pounds ($2.6 billion) to stockpile medicines, hire more border officials and fund one of the biggest peacetime advertising campaigns.

Prime Minister Boris Johnson, who took power last week, has pledged to leave the trading bloc without an agreement in three months unless the EU agrees to renegotiate the deal agreed by his predecessor Theresa May.

In his first major policy announcement, new finance minister Sajid Javid said the outlay will allow the government to increase training for customs officials, hire more staff to deal with an expected increase in passport applications, and improve infrastructure around ports.

"With 92 days until the UK leaves the European Union it's vital that we intensify our planning to ensure we are ready," Javid said. "We want to get a good deal that abolishes the anti-democratic backstop. But if we can't get a good deal, we'll have to leave without one."

Wrenching the UK out of the EU without a deal means there would be no formal transition arrangement to cover everything from post-Brexit pet passports to customs arrangements on the Northern Irish border.

Many investors say a no-deal Brexit would send shock waves through the world economy, tip Britain into a recession, roil financial markets and weaken London's position as the pre-eminent international financial center.

Supporters of Brexit say that while there would be some short-term difficulties, the disruption of a no-deal Brexit has been overplayed and that in the long-term, the UK would thrive if it left the EU.

The finance ministry, which said the new money will "turbo-charge" no-deal preparations, will provide an immediate cash boost of 1.1 billion pounds and make a further 1 billion pounds available for government departments and the devolved administrations in Scotland, Wales and Northern Ireland.