Chancellor of the Exchequer George Osborne said on Monday that the U.K. economy could be hurt by international shocks.

"Everyone is concerned about the situation on the Asian financial markets. I would take it as a reminder that we are not immune from what happens in the world," he said.

Osborne pointed out that it is necessary to keep "own house in order".

"You don't know where the next crisis is coming from, where the next shock is going to come from in the world. Britain is a very open economy, probably the most open of the largest economies, and we are affected by what happens, whether it is problems in the euro zone, problems in Asian financial markets," he noted.