Hammond rejects idea of Emergency Budget

Newly-appointed Chancellor of the Exchequer

Laura Dew
clock
Hammond rejects idea of Emergency Budget

Philip Hammond, newly appointed Chancellor of the Exchequer, has said there will be no Emergency Budget in the wake of a reshuffle in the government.

Hammond (pictured) was the first appointment made last night in the new Cabinet formed by Prime Minister Theresa May. He was formerly Foreign Secretary, a position now held by Boris Johnson. In an interview with the BBC, Hammond explained the focus would be working with the Bank of England to prepare for the Autumn Statement later this year.  "We will want to work closely with the governor of the Bank of England and others through the summer to prepare for the Autumn Statement, when we will signal and set out the plans for the economy in what are very different circumstances that we n...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot