Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the potential effect of the outcome of the EU referendum on (a) the UK economy, (b) market conditions, (c) projected GDP and (d) likely future trends in the value of the pound.

While it is clear that we do now face a significant economic challenge as a result of the referendum decision, the UK economy is well placed to respond. We have seen volatility in financial markets following the referendum. However, markets have continued to function effectively throughout and we continue to be in close contact with the Bank of England and the FCA to monitor developments.