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George Osborne's reassuring words fail to comfort the markets

Discussion in 'Market News' started by Lily, Jun 27, 2016.

  1. Lily

    Lily Forum Member

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    With a lame-duck chancellor and Boris Johnson in the land of make believe, the financial positives are few and far between

    Stay calm, said the chancellor. Markets paused for half an hour and then resumed their falls. George Osborne cannot be surprised. He spent the referendum warning of the hell and damnation that would befall the British people if they voted for Brexit. Words of reassurance are not credible from the mouth of an author of Project Fear.

    Lord King, a former governor of the Bank of England, was right to say yesterday that Osborne’s threat to launch an emergency budget, raising income tax and slashing spending, was a low point of a referendum campaign that was dispiriting on both sides.

    Related: George Osborne seeks to calm markets amid Brexit turmoil

    Related: Boris Johnson must work fast to stop Brexit being seen as an act of treachery | Matthew d’Ancona

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