More from Osborne: No emergency Budget at this time

27 June 2016, 08:51
Sherif Hasan

UK fin min Osborne now in Q&A session 27 June 2016

  • there will be need for action in the Autumn to address public finances

Pre-Brexit he was scaring people that an emergency Budget would be needed with pension and welfare cuts.

Q&A over and he's dodged the bullets from the floor on resignation. My view is that he will be canvassing the level of support he has to stage a leadership bid or whether, given Boris Johnson's conciliatory stance right now ( no shocks there really), he might be pleading to Remain in his post as fin min. Untenable imho as I have said before but not out of the question.

If Cameron was gracious in defeat, if somewhat hasty in resigning, Osborne is a consummate politician and therefore has no such conscience. He will simply try and worm the best deal he can out of all this turmoil.

In a delayed reaction ( second wave once news circulates) the pound is making some gains. GBPUSD 1.3441 EURGBP 0.8213
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