British Chancellor of the Exchequer Philip Hammond (R) poses for a photograph with US Treasury Secretary Jack Lew (unseen) ahead of their meeting inside number 11 Downing Street in central London on July 14, 2016. AFP / POOL / Carl Court
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Britain's new finance minister, Philip Hammond, said Thursday he would do whatever is necessary to restore confidence in the economy after the Brexit vote, suggesting a less aggressive approach to bringing down the budget deficit. In his first public comments since succeeding George Osborne as chancellor of the exchequer, Hammond praised Bank of England Governor Mark Carney and said he would take decisions over the summer before outlining his tax and spending plans.In a series of media interviews Thursday, Hammond declined to commit himself to plans made by Osborne in the wake of the referendum, including proposals to make further cuts to corporation tax.But he suggested he would take a less aggressive approach to fixing the public finances, echoing comments by Britain's new Prime Minister Theresa May.
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