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Monday, 27 June 2016 - 16:35
UK Ready To Face Future – George Osborne
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British Conservative Party politician and Chancellor George Osborne says the UK is ready to face the future “from a position of strength”.

The chancellor made the assertion in a statement aimed at calming financial markets after the Brexit vote triggered market turmoil on Friday.

He had not spoken since the Leave campaign won Thursday’s referendum.

Osbourne said “I said we had to fix the roof so we were prepared for whatever the future held and thank goodness we did”.

Before that statement the pound fell further, down another 2.6% against the dollar at $1.34.

The BBC reported Osborne appeared to retreat from his position before the referendum that there would have to be an emergency Budget in the wake of a vote for Brexit.

He said there would still need to be an “adjustment” in the UK economy, but that it was “perfectly sensible to wait for a new prime minister” before taking any such action.

Osborne said he had spoken to Bank of England governor Mark Carney and that there were “well thought through contingency plans if needed”.

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