UK's Hammond: considering whether fiscal response to Brexit needed

[LONDON] British finance minister Philip Hammond said on Thursday he was considering whether a fiscal response to the decision by voters to leave the European Union would be appropriate as part of a budget statement he is due to make on Nov 23.

Mr Hammond also said his previous comments about a possible "reset" of fiscal policy in the wake of the Brexit vote referred to the government's decision not to pursue a previous target to run a budget surplus by 2020.

Mr Hammond prompted speculation that he might be planning a major increase in spending or big tax cuts when he made the comment about a possible reset of fiscal policy in July.

REUTERS