It was the very first time he’d talked since the referendum and since the british pound dropped to a 30-year low against the US dollar as a result of the vote. He said he needed to assure the British people and the international community that Britain is prepared to face what the future holds in a position of strength.
He mentioned economic growth, employment, the quantity of capital liquidity and a shortage expected to drop again this year to show that the UK remained the most strong sophisticated market in the world. Osborne said there was a coordinated response by the government, monetary authorities and Britain’s international associates. He said they were prepared for the sudden and that they were equipped for whatever occurs.
He said there would be a additional strategy if desired. Confronted with strategies by businesses to move offices from the united kingdom or to freeze investments, Osborne said the British market was powerful, competitive, open for business and that he was decided to keep financial stability. He said that Brexit would have a direct effect on public finances and on the market, but that it’d be up to another government, in the fall, to determine an allowance funds.
About dialogues with the EU, Osborne said the UK should activate article 50 of the EU treaty, which controls the EU departure procedure, just when there exists a clear view in what new arrangements we’re seeking.