Economic Situation

HM Treasury written question – answered on 8th July 2016.

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Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

While it is clear that we do now face a significant economic challenge as a result of the referendum decision, the UK economy is well placed to respond. Over the last six years we have taken a series of difficult, sometimes painful decisions in order to rebuild our economy.

To minimise the risk to the economy in general, and make the decision work for the UK, we need to ensure that we resolve the economic uncertainty by working together to determine the model for our new relationship with the EU.

Before the referendum campaign, the UK government published short-term and long-term assessments of the likely impact on the economy of the UK leaving the EU.

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