• Wednesday, October 05, 2022

News

New finance minister says UK must consider pace of deficit reduction

Philip Hammond has been appointed new finance minister

By: Eastern Eye Staff

Britain’s new finance minister, Philip Hammond, said on Thursday that he would do whatever is necessary to steady the economy and restore confidence after the Brexit vote. Hammond, 60, was appointed by Britain’s new prime minister Theresa May to run the world’s fifth largest economy. He was previously foreign secretary. In his first public comments as chancellor of the exchequer, Hammond praised Bank of England Governor Mark Carney and said he would take steps carefully considered decisions over the summer. “Markets do need signals of reassurance, they need to know that we will do whatever is necessary to keep the…

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