On the 27th of June Chancellor, George Osborne broke his silence on the decision of the EU Referendum by taking to the lectern at the Treasury – his first appearance since the votes on Thursday the 23rd of June. Osborne has reassured that his current position as Chancellor is to maintain the stability within the UK economy throughout these unreliable times.
Osborne has vowed to ‘do everything I can to make it work for Britain’ – he also claimed that he will not be backing down from his position as the Chancellor. He also comforted those businesses who are currently doubtful that what Britain is facing is a future ‘from a position of strength.’
Just before he made the statement the GBP dropped by a further 2.6% versus the dollar which is at $1.34. However, although negative Osborne insisted that Britain is ‘equipped for whatever happens.’
Osborne continued to say that Article 50 should only be sparked when there is ‘a clear view about what relationships the UK is seeking with our European neighbours.’ He concluded his broken silence by proclaiming that there is a plan to deal with the Brexit outcome and that is to stand down until the Office for Budget Responsibility has evaluated the Referendum’s impact and until there is a new Prime Minister running.
Head of Businesscomparison.com, Philip Brennan has commented;
“It is sad that we are now in a position of turmoil and that confidence is low in the market. I was happy to see that the Chancellor ended his silence and explained what work had been going on in the background. This is reassuring that the contingency plans are kicking in. However, the worrying thing is, all of the people who wanted the exit currently have no power to implement what they wished for. With the Shadow cabinet in turmoil we need someone to steady the ship, could that person be the Chancellor? As a business owner we are now desperate to know what leaving the EU really means?”