UK new finance chief rules out emergency budget

Britain’s new finance minister Philip Hammond has ruled out an emergency budget following the recent economic turbulence triggered in the country after the Brexit vote.

Hammond said in his first interview on Thursday morning as the Chancellor of the Exchequer that there will be no “plan for an emergency budget,” following the country’s June 23 vote to leave the European Union.

The new Prime Minister Theresa May appointed Hammond on Wednesday to replace George Osborne as the Chancellor of the Exchequer.

Osborne had suggested last month before the EU referendum that an emergency budget would be needed if the country voted to leave the bloc.

“There will be an Autumn Statement in the normal way and then there will be a Budget in the normal way,” Hammond said.

“But the markets do need signals of reassurance; they need to know we will do whatever is necessary to keep the economy on track,” he added.

Osborne was the architect of Britain’s economy…

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