The British economy will face turbulence as the government negotiates the country’s exit from the European Union, finance minister Philip Hammond said on Monday.
On Sunday, Prime Minister Theresa May said Britain would begin formal divorce talks with the EU by the end of March next year, and Hammond said he was in favor of getting a deal done “as soon as possible”.
“We must expect some turbulence as we go through this negotiating process and there will be a period of a couple of years or perhaps even longer when businesses are uncertain about the final state of our relationship with the European Union and during that period we need to support the economy,” Hammond told BBC television.
Manufacturing PMIs Eyed Ahead of Jobs Report
Britain Sets out 5 Billion-Pound Homebuilding Boost
Hammond Rates UK Economy an ‘Eight out of 10’
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Craig Erlam
Latest posts by Craig Erlam (see all)
- US Open – EU Stimulus Lifts Stocks - 05/28/2020
- Business Breakfast Podcast (Episode 45) - 05/28/2020
- UK100 – Cause For Optimism? - 05/28/2020