Philip Hammond quits as Chancellor ahead of Johnson becoming PM

Support us and go ad-free

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

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”.

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

Read on...

Support us and go ad-free

In his resignation letter to Theresa May, 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 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 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.”

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

PA understands Hammond handed his resignation to May after her final session of prime minister’s questions.

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

Support us and go ad-free

We need your help to keep speaking the truth

Every story that you have come to us with; each injustice you have asked us to investigate; every campaign we have fought; each of your unheard voices we amplified; we do this for you. We are making a difference on your behalf.

Our fight is your fight. You’ve supported our collective struggle every time you gave us a like; and every time you shared our work across social media. Now we need you to support us with a monthly donation.

We have published nearly 2,000 articles and over 50 films in 2021. And we want to do this and more in 2022 but we don’t have enough money to go on at this pace. So, if you value our work and want us to continue then please join us and be part of The Canary family.

In return, you get:

* Advert free reading experience
* Quarterly group video call with the Editor-in-Chief
* Behind the scenes monthly e-newsletter
* 20% discount in our shop

Almost all of our spending goes to the people who make The Canary’s content. So your contribution directly supports our writers and enables us to continue to do what we do: speaking truth, powered by you. We have weathered many attempts to shut us down and silence our vital opposition to an increasingly fascist government and right-wing mainstream media.

With your help we can continue:

* Holding political and state power to account
* Advocating for the people the system marginalises
* Being a media outlet that upholds the highest standards
* Campaigning on the issues others won’t
* Putting your lives central to everything we do

We are a drop of truth in an ocean of deceit. But we can’t do this without your support. So please, can you help us continue the fight?

The Canary Support us