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Home Politics

Chancellor Philip Hammond resigns ahead of Boris Johnson entering Number 10

Hammond has been consistently sounding warnings about the economic danger of Johnson pursuing a no-deal Brexit.

Ben Gelblum by Ben Gelblum
2019-07-24 13:46
in Politics
credit;PA

credit;PA

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BREAKING: Chancellor Philip Hammond has just resigned ahead of Boris Johnson replacing Theresa May as Prime Minister today.

I have just handed in my resignation to @theresa_may. It has been a privilege to serve as her Chancellor of the Exchequer for the last three years. pic.twitter.com/pcCkvKhQxj

— Philip Hammond (@PhilipHammondUK) July 24, 2019

He said said Boris Johnson should be able to choose a chancellor ‘fully aligned’ with his policies.


Philip Hammond has quit as Chancellor ahead of Boris Johnson entering Downing Street.

Mr Hammond, a staunch opponent of a no-deal Brexit, said the new Prime Minister should be “free to choose a chancellor who is fully aligned with his policy position”.

No-deal Brexit

New Tory leader Mr Johnson has repeatedly promised to take the UK out of the European Union on October 31, with or without a deal.

In his resignation letter to Theresa May, Mr Hammond said: “Despite the uncertainty created by the unresolved issue of Brexit, we have been able to make notable progress in rebuilding the public finances and preparing the British economy for the opportunities ahead.”

In a pointed message to Mr Johnson, the outgoing Chancellor warned that the headroom built up in the public finances could only be used for tax cuts and spending boosts if a Brexit deal was secured.

In his letter to Mrs May, ahead of her own resignation as Prime Minister, he said: “We bequeath to our successors genuine choices, once a Brexit deal is done: the ability to choose, within the fiscal rules, between increased public spending, reduced taxes, higher investment or progress towards faster debt reduction – or some combination of all four.

“After a decade when the aftermath of the 2008-09 recession meant we had no choices, this is a luxury which our successors should use wisely.”

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Theresa May speaks during her last PMQs
Theresa May speaks during her last PMQs (House of Commons/PA)

PA understands Mr Hammond handed his resignation to Mrs May after her final session of Prime Minister’s Questions.

It is highly unlikely he would have been given a job by Mr Johnson even if he had wished to carry on given their differences over Brexit.

Just 24 hours ago he tweeted his “wholehearted support” for the PM-to-be. So whether he jumped before he was pushed, you can make your own mind up:

Congratulations @BorisJohnson! You have said very clearly that you are determined to do a deal with Brussels – and you will have my wholehearted support in doing so. Good luck!

— Philip Hammond (@PhilipHammondUK) July 23, 2019

UPDATE: David Lidington, the Cabinet Office minister and Theresa May’s de facto deputy, is also resigning, he has announced on Twitter.

I wrote to @BorisJohnson yesterday to congratulate him on his election, to wish him well & to say I've decided that after 20 yrs on the front bench it's the right moment to move on. I shall leave the govt when @theresa_may offers her resignation to The Queen.

— David Lidington (@DLidington) July 24, 2019
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