Chancellor George Osborne holds press conference about the economy following Brexit vote

The transcript discusses Britain's preparedness for financial shocks and the role of its financial system in mitigating them. It highlights the economic impact of recent decisions, such as firms pausing investments and hiring. The text also outlines the need for future actions, considering the delay in triggering Article 50 and the transition to a new Prime Minister, suggesting that decisions should wait for an economic assessment in the autumn.

What is the primary focus of Britain's financial system according to the speaker?

• To increase economic shocks

• To prevent and dampen economic shocks

• To contribute to financial instability

• To ignore economic changes

How does the speaker describe the financial system's role compared to eight years ago?

• More vulnerable to shocks

• Better equipped to handle shocks

• Unchanged in its approach

• Less prepared for unexpected events

What is the immediate effect of Thursday's decision on businesses?

• Increase in hiring

• Pause in investment and hiring decisions

• Expansion of business operations

• Boost in investments

What does the speaker suggest should be done before deciding on actions to address economic impacts?

• Waiting for the OBR's assessment and the new Prime Minister's decisions

• Ignoring the economic impacts

• Immediate implementation of new policies

• Relying on past strategies

What is the expected outcome of the delay in triggering Article 50?

• Immediate economic recovery

• Uncertainty in economic planning

• Clarity in financial policies

• Stability in public finances