UK shelves balanced budget goal as Brexit vote roils economy

July 1, 2016 4:36 PM

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LONDON — Britain’s Treasury chief on Friday abandoned the government’s long-held goal of balancing the nation’s books by 2020, warning that the country’s vote to leave the European Union had sent shock waves and instability through the U.K. economy.

In a sign of that uncertainty, a leading contender to become the country’s next prime minister said he would not trigger formal EU exit talks before next year — even as senior European officials urged Britain to hurry up and go.

Also read: E.U. Leaders Talk Tough on ‘Brexit’ and Warn That Time Is Short

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