LONDON – Britain's Treasury chief, Philip Hammond, has warned of turbulence in the coming years as the country negotiates its exit from the European Union.
Hammond told the BBC on Monday that Britain will face a couple of years, or longer, of uncertainty as Britain goes through the process of leaving the 28-nation trading bloc.
In comments made before he addresses the Conservative Party conference, Hammond said that during this period, "we need to support the economy."
Hammond's remarks came a day after Prime Minister Theresa May set a timetable for Britain's exit. The pound has fallen 0.5 percent on the news to $1.2859 as May's comments suggested the country was on track for a so-called "hard Brexit," in which Britain loses the possibility of continuing close ties to the bloc.