UK Osborne Says Taxes Will Rise To Cover Brexit Costs

Finance minister George Osborne said on Tuesday that Britain would have to raise taxes and cut spending to deal with the economic challenge posed after Britons voted to leave the European Union.

“We are absolutely going to have to provide fiscal security to people, we are going to have to show the country and the world that the government can live within its means,” he told BBC radio.

Asked if that meant tax rises and spending cuts, he said: “Yes, absolutely.”

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza