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UK city minister: government not taking responsibility for market chaos

Britain delays new power to veto financial regulators
Britain delays new power to veto financial regulators Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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LONDON - Britain's city minister Andrew Griffith said on Wednesday that the government was not take responsibility for the turmoil in financial markets that followed a fiscal policy announcement last week.

Asked whether he took responsibility for what was happening in financial markets, he said: "No, we both know that we're seeing the same impact of Putin's war in Ukraine cascading through things like the cost of energy, some of the supply side implications of that.

"And that's impacting every major economy and just the same, every major economy, you're seeing interest rates going up as well."

Asked if the government intended to change any of the plans announced last week, he said: "We think they're the right plans because those plans make our economy competitive"

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