Incoming Chancellor of the Exchequer Philip Hammond said on Thursday the U.K. Treasury would do whatever it needed to do to restore business and consumer confidence, which has taken a hit since the country voted to leave the European Union.
In an interview with Sky News, Hammond, who campaigned to remain in the EU, said the economy had "taken a shock".
"Markets, businesses and consumers were not expecting Brexit. We will take whatever measures are necessary to restore confidence," he told the broadcaster.
The chancellor, the U.K.'s equivalent of finance minister, added that he was "not anticipating" the need for an emergency budget in the near term.