Chancellor Philip Hammond played down expectations of a surge in public spending to offset the economic hit from the Brexit vote, but said he could fund modest infrastructure projects if needed.
Shortly after taking office in July, Hammond said he might ‘reset’ his predecessor’s plans to target a budget surplus by 2020, suggesting he could go big on spending to help Britain cope with the impact of June’s European Union referendum result.
But on Thursday, he signalled that any stimulus in the budget update he is due to announce on Nov. 23 is likely to be modest.
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