Europe

New UK Treasury chief says there'll be no emergency budget

  • Philip Hammond arrives at 10 Downing Street to meet with new Prime Minister Theresa May, in London, Wednesday, July 13, 2016.  Hammond has been appointed Chancellor in Theresa May's first cabinet appointment. (Hannah McKay/PA via AP)

    Philip Hammond arrives at 10 Downing Street to meet with new Prime Minister Theresa May, in London, Wednesday, July 13, 2016. Hammond has been appointed Chancellor in Theresa May's first cabinet appointment. (Hannah McKay/PA via AP)  (The Associated Press)

  • New British Prime Minister Theresa May speaks to the media outside her official residence,10 Downing Street in London, Wednesday July 13, 2016. David Cameron stepped down Wednesday after six years as prime minister. (AP Photo/Kirsty Wigglesworth)

    New British Prime Minister Theresa May speaks to the media outside her official residence,10 Downing Street in London, Wednesday July 13, 2016. David Cameron stepped down Wednesday after six years as prime minister. (AP Photo/Kirsty Wigglesworth)  (The Associated Press)

  • New British Prime Minister Theresa May and her husband Philip May stand on the steps of 10 Downing Street in London, Wednesday July 13, 2016. David Cameron stepped down Wednesday after six years as prime minister. (AP Photo/Kirsty Wigglesworth)

    New British Prime Minister Theresa May and her husband Philip May stand on the steps of 10 Downing Street in London, Wednesday July 13, 2016. David Cameron stepped down Wednesday after six years as prime minister. (AP Photo/Kirsty Wigglesworth)  (The Associated Press)

Britain's new Treasury chief says there will be no emergency budget — even though there are questions marks hanging over the economy following the country's decision to leave the European Union.

Philip Hammond says he will meet with the head of the Bank of England, Mark Carney, on Thursday to "assess where we are."

Hammond was one of Prime Minister Theresa May's first appointments, and one of his immediate tasks was to take to the airwaves in hopes of offering calming tones of reassurance to the markets and the general public about the economy.

Hammond told ITV that while there is no plan for an emergency budget, "the markets do need signals of reassurance, they need to know we will do whatever is necessary to keep the economy on track."