Philip Hammond to Stand Down from House of Commons

Philip Hammond, the Chancellor of the Exchequer under Theresa May’s leadership, has confirmed that he will not be standing in the 2019 General Election. Hammond has represented the constituency of Runnymede and Weybridge since it was created in 1997.

Hammond said on Twitter:

“It is with great sadness that I am today announcing my decision to stand down as Member of Parliament for Runnymede & Weybridge at the forthcoming General Election.”

Prime Minister Asked by Former Chancellor About Misinformation From Downing Street

Philip Hammond, the former Chancellor of the Exchequer, has written to Boris Johnson, the Prime Minister, asking him to explain why Downing Street officials had briefed against former Ministers accusing them of leaks of Brexit material. Subsequent information about the dates of the documents that were leaked showed that they came from the current Government.

A Downing Street spokesperson told reporters:

“This document is from when ministers were blocking what needed to be done to get ready to leave and the funds were not available. It has been deliberately leaked by a former minister in an attempt to influence discussions with EU leaders.”

Hammond said in a post on Twitter:

“It has now become apparent that the Operation Yellowhammer document leaked last week was dated August 2019, and was not ‘old’.”

Hammond wrote in his letter to the Prime Minister:

“I am writing on behalf of all former Ministers in the last administration to ask you to withdraw these allegations which question our integrity, acknowledge that no former Minister could have leaked this document, and apologise for the misleading briefing from No. 10”.

Philip Hammond, David Lidington, Rory Stewart and David Gauke Confirm Resignations from Cabinet

Philip Hammond, David Lidington, Rory Stewart and David Gauke have all confirmed that they will be leaving the Cabinet. All four had made their announcement in advance of Boris Johnson becoming the next Prime Minister.

Hammond was the Chancellor of the Exchequer, Lidington was the Deputy Prime Minister, Stewart was the Secretary of State for International Development and Gauke was the Secretary of State for Justice.

Chancellor Confirms He Will Resign if Boris Johnson Becomes Prime Minister

Philip Hammond, the Chancellor of the Exchequer, has said that he will resign if Boris Johnson becomes the next Prime Minister. Hammond said that he couldn’t be part of a Cabinet which would accept a no-deal Brexit, and he stated that he would resign before Theresa May heads to Buckingham Palace to resign as Prime Minister.

Speaking on the BBC’s Andrew Marr show, Hammond said:

“Assuming that Boris Johnson becomes the next Prime Minister. I understand that his conditions for serving in his government would include accepting a no deal exit on the 31st of October. That is not something I could ever sign up to. It’s very important that a Prime Minister is able to have a Chancellor who is closely aligned with him in terms of policy and I therefore intend to resign to Theresa May before she goes to the palace to tender her own resignation on Wednesday.”

Philip Hammond Says MPs Will Block No-Deal Brexit

Philip Hammond, the Chancellor of the Exchequer, has said that he believes that MPs will block a no-deal Brexit. Boris Johnson, the favourite to win the Conservative Party leadership, has said that the odds of a no-deal were “a million to one against”.

Speaking to Nick Robinson, Hammond said:

“The Commons has been clear already that it does not support a no-deal exit. That is my position, and as a backbencher I will continue to argue against a no-deal exit.”

When asked if the House of Commons would get a chance to block a no-deal, the Chancellor added:

“Let me quote the Speaker of the House of Commons, who has said that if the House of Commons is determined to do something he is quite sure that it will find a way and I am quite confident that the House of Commons will find a way and indeed should be able to find a way”.

Gertjan Vlieghe Re-appointed to Monetary Policy Committee

Philip Hammond, the Chancellor of the Exchequer, has confirmed that Gertjan Vlieghe has been re-appointed to the Monetary Policy Committee and will serve his second three-year term.

Hammond said in a statement:

“Dr Vlieghe has provided a valuable and effective contribution to monetary policy through his deep understanding of the UK economy. I am therefore pleased that he will continue to share this expertise as a member of the Monetary Policy Committee”.

Vlieghe was previously a partner at Brevan Howard Asset Management and he was a bond strategist at Deutsche Bank from 2005 to 2007 and before that he worked for the Bank of England.

Chancellor in Visit to Saudi Arabia

Philip Hammond, the Chancellor of the Exchequer, is visiting Saudi Arabia today to discuss trading issues between the two countries. During the Chancellor’s visit he is expected to meet King Salman, Crown Prince Mohammed Bin Salman and the Ministers of Finance, Energy, and Economy and Planning.

Hammond said in a statement:

“Saudi Arabia is a key partner for the UK and we are offering ongoing support as it progresses with its ambitious economic reform plan, Vision 2030. We will work closely with Saudi Arabia as it modernises and its economy diversifies, ensuring that both our nations benefit from the growing trade and investment opportunities”.

Government Introduces new Cross-Border Bill to Parliament

The Government has introduced a new bill into the House of Commons which is designed to allow for goods can be smoothly moved in and out of the country with the appropriate level of tax being paid. The measures were out-lined in the Queen’s Speech and are designed to assist with the Brexit process.

Philip Hammond, the Chancellor of the Exchequer, said in a statement:

“Britain is a great trading nation and innovative UK businesses are central to the success of our economy. This Bill represents the first step in setting up an independent UK customs regime and reaffirms our commitment to deliver a smooth transition for businesses as we leave the EU”.

 

Chancellor of the Exchequer Visits the US to Boost Trade

Philip Hammond, the Chancellor of the Exchequer, is visiting the United States in a bid to boost trade and to discuss other financial issues. During his visit he will meet numerous US financial figures and then visit New York to discuss the current economic situation in the UK with CEOs of American business organisations.

In a statement Hammond said:

“I will be in the US this week to demonstrate that Global Britain is not just a phrase, it is a reality. I am looking forward to productive discussions with my international colleagues as we work together to ensure that economic growth works for everyone”.

Government to Announce £300 million for northern transport projects

Philip Hammond, the Chancellor of the Exchequer, is to announce £300 million to improve rail links in the north of England. The announcement is expected to be made at the Conservative Party conference which starts today in Manchester. There will also be £100 million spent on new road projects, although this will come from existing budgets.