Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, pursuant to his oral contribution on 4 July 2016, Official Report, column 626, on what date he (a) decided not to introduce an emergency budget and (b) asked the OBR to assess the effect of the EU referendum result on the economy.

As the Chancellor has said, the referendum result will have an impact on the economy and public finances – and there will need to be action to address that. Given the delay in triggering Article 50 and the Prime Minister’s decision to hand over to a successor, it is sensible that decisions on what that action should consist of should wait until the Office of Budget Responsibility has made an economic forecast in the Autumn.

The Chancellor will commission the OBR to provide an Autumn forecast in the usual way.