Boris Johnson travelled to Wales today and pledged that British farmers would be better off if the UK left the European Union at the end of October even if it were without a deal

Ministers are working on a £500 million plan to support farmers in the event of a no-deal Brexit, The Times has learnt.

If no deal is reached the government will buy slaughtered livestock at set prices to prop up demand that will collapse in Europe because of high tariffs.

Boris Johnson promised in Wales yesterday that British farmers would be better off if the UK left the EU at the end of October, even without a deal. He said the government was working on “interventions that are aimed to support their incomes” in the event of a no-deal Brexit, adding that “we’ll make sure they have the support they need”.

The Times understands that under plans being finalised by Michael Gove, who