CHENGDU (CHINA) - Britain could unleash a government stimulus package this autumn to counter the negative effects of its vote to leave the European Union, its finance minister said Sunday. Economic data available in the autumn would allow London to "to reach a proper conclusion as to whether a fiscal stimulus is required", he said. Hammond said a "new framework" for Britain's budget would be released in the autumn to "give clarity to investors", without giving details. Britain's ruling Conservative party abandoned its policy of reaching a budget surplus by 2020 following the shock Brexit vote, potentially freeing up funds for spending. His remarks came after closely-watched survey data Friday showed that Britain's economy was battered by the Brexit vote last month and faced a "dramatic deterioration" in activity.

Source: Bangkok Post July 24, 2016 08:48 UTC