Britain’s new finance minister, Philip Hammond, announced Thursday, July 14, there would be no emergency budget immediately facing the prospect of Brexit, following his appointment by the Prime Minister, Theresa May.
When asked by a journalist from Sky News to the release of his home on the possibility of an emergency budget, the new Chancellor of the Exchequer said:
“the Prime Minister stressed that there would be a declaration of autumn as usual this fall and that we would study carefully the situation this summer. “
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His predecessor George Osborne, a devout favored the retention in the European Union (EU), had threatened to mid-June for a possible emergency budget, marked by a possible additional austerity cure, if the British decided to leave the EU in the referendum June 23.
the last camp victory Brexit Mr Osborne had finally said that this decision would amount to the government to replace that of David Cameron.
a decision highly anticipated monetary policy
Mr. Hammond, who swapped the portfolio of Foreign Affairs against the finance, provided no information on possible changes to the original budget presented in mid-March by Mr Osborne.
He had warned in the days following the victory of Brexit that the next government would be forced to increase the austerity policy. He also ruled that the objective of returning to a budget surplus in 2020 should probably be abandoned.
Mr. Hammond said he would “see the governor of the Bank of England this morning to assess the situation” . The Central Bank announced in mid-day maintenance of its monetary policy despite the Brexit.
Asked about the attitude it would adopt vis-à-vis Brussels in complex exit negotiations UK looming, Mr. Hammond was very cautious but stressed the importance of maintaining a “access to the single market of the European Union” to the powerful financial industry UK.
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