Britain's new finance chief rules out emergency budget

Newly appointed Chancellor of the Exchequer Philip Hammond said a budget would be submitted towards the end of the year, as planned by his predecessorBritain’s new finance minister Philip Hammond on Thursday ruled out an emergency budget in response to economic turbulence triggered by the country’s vote in favour of exiting the European Union. Hammond told media that a budget would be submitted towards the end of the year, as planned by his predecessor George Osborne following a U-turn. Ahead of last month’s referendum on Britain’s EU membership, Osborne had suggested that an emergency budget would be required in the event of a Brexit vote.

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