Chancellor Philip Hammond Will Act In Event Of Brexit Downturn

The video discusses the shift in focus from UK-China relations to the economic impact of Brexit, highlighting a potential recession and changes in fiscal policy. It covers the immediate effects on currency and inflation, the drop in the PMI index, and business reactions. The new chancellor's approach contrasts with his predecessor's, indicating a readiness to reset economic plans. The video concludes with a look at the UK's global relations and its Brexit bargaining position.

What was the main reason for the UK chancellor considering a reset of fiscal policy?

• An unexpected budget surplus

• A sudden increase in exports

• A significant drop in the purchasing managers indices

• A rise in employment rates

How did the referendum vote impact businesses in East London?

• It led to a decrease in product prices

• It had no noticeable impact

• It resulted in higher employment rates

• It caused an increase in product prices due to currency issues

What does a fall in the PMI index indicate about the economy?

• Increased consumer confidence

• Economic growth

• Recession territory

• Stable economic conditions

What was George Osborne's approach to the UK economy before Brexit?

• To focus on international trade

• To increase government spending

• To cut the deficit and stick to the plan

• To reset fiscal policy frequently

What is the current stance of the UK regarding international relations post-Brexit?

• To focus solely on domestic issues

• To continue collaboration and seek further opportunities

• To reduce international trade

• To isolate from international partners