|Author (Corporate)||United Kingdom: HM Treasury|
The United Kingdom Chancellor of the Exchequer (Finance Minister), George Osborne, made a statement on the 27 June 2016 following the outcome of the EU referendum.
He said that the outcome of the referendum would have an impact on the economy and the public finances – and there would need to be action to address that. However, he also said that he wanted want to reassure the British people, and the global community, that Britain was ready to confront what the future held for us from a position of strength.
The credit rating agency Standard and Poor's downgraded the UK credit rating on the 27 June 2016 saying that the EU referendum result was a ‘seminal event’ that meant Britain no longer deserved a top credit rating. Fitch also downgraded the UK. The pound hit a new 31-year low against the US dollar and the stock market fell.
|Countries / Regions||United Kingdom|