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Serious BBC Daily & Sunday Politics: Andrew Neil & Jo Coburn
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'I will make Brexit work' FTSE falls by just 0.7% as Osborne says UK is open for business
GEORGE Osborne has said the Government will accept the result of last week's EU
The Pound slid another 2 per cent and the FTSE fell by just 0.7 per cent as the markets opened this morning. In what was set to be a financial annihilation, the markets seemed to steady after the Chancellor called an emergency conference this morning.
Speaking at the Treasury, Mr Osborne admitted the humiliating defeat over Brexit was "not the outcome I wanted" but sought to reassure the markets ahead of them opening.
He told reporters: "I fully accept the result of the referendum and will do everything I can to make it work. I am completely focused on the tasks ahead."
The Chancellor said it was "inevitable" the economy would have to adjust but added that Britain is "ready to confront what the future holds for us".
He said: "It will not be plain sailing in the days ahead. But let me be clear – you should not underestimate our resolve.
"We were prepared for the unexpected and we are equipped for whatever happens.
"And we are determined that, unlike eight years ago, our financial system will help our country deal with any shocks and dampen them."
Asked about his own position, the Chancellor, who has faced repeated calls to quit, said: "I've got a very important job to do.
"That is what I am 100 per cent focused on and will continue to be focused on in the weeks ahead."
He dodged a question on his future role in the Conservative Party, saying the matter would be addressed "in the coming days".
His statement was designed to calm market anxieties after the pound fell a further 2 two per cent against the US dollar in overnight trading.
But Mr Osborne insisted that the UK economy is "about as strong as it could be" to deal with Brexit and said Britain remains "open for business".
He revealed he met with Bank of England Governor Mark Carney and fellow finance ministers and international economic organisations over the weekend.
GEORGE Osborne has said the Government will accept the result of last week's EU
The Pound slid another 2 per cent and the FTSE fell by just 0.7 per cent as the markets opened this morning. In what was set to be a financial annihilation, the markets seemed to steady after the Chancellor called an emergency conference this morning.
Speaking at the Treasury, Mr Osborne admitted the humiliating defeat over Brexit was "not the outcome I wanted" but sought to reassure the markets ahead of them opening.
He told reporters: "I fully accept the result of the referendum and will do everything I can to make it work. I am completely focused on the tasks ahead."
The Chancellor said it was "inevitable" the economy would have to adjust but added that Britain is "ready to confront what the future holds for us".
He said: "It will not be plain sailing in the days ahead. But let me be clear – you should not underestimate our resolve.
"We were prepared for the unexpected and we are equipped for whatever happens.
"And we are determined that, unlike eight years ago, our financial system will help our country deal with any shocks and dampen them."
Asked about his own position, the Chancellor, who has faced repeated calls to quit, said: "I've got a very important job to do.
"That is what I am 100 per cent focused on and will continue to be focused on in the weeks ahead."
He dodged a question on his future role in the Conservative Party, saying the matter would be addressed "in the coming days".
His statement was designed to calm market anxieties after the pound fell a further 2 two per cent against the US dollar in overnight trading.
But Mr Osborne insisted that the UK economy is "about as strong as it could be" to deal with Brexit and said Britain remains "open for business".
He revealed he met with Bank of England Governor Mark Carney and fellow finance ministers and international economic organisations over the weekend.
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