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Hammond quits so Johnson can pick 'fully aligned' chancellor Hammond quits so Johnson can pick 'fully aligned' chancellor
(32 minutes later)
Philip Hammond has quit as chancellor ahead of Boris Johnson entering Downing Street. Philip Hammond has quit as chancellor before Boris Johnson enters 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”.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”.
It follows other key resignations including David Gauke as justice secretary, Rory Stewart as development secretary and David Lidington as the Cabinet Office secretary. Mick Davis, the conservatives’ chief executive and treasurer, also stood down on Wednesday morning. His departure follows other key resignations including David Gauke as justice secretary, Rory Stewart as international development secretary and David Lidington as Cabinet Office minister. Mick Davis, the chief executive and treasurer of the Conservative party, also stood down on Wednesday morning.
Johnson has repeatedly promised to take the UK out of the European Union on 31 October, with or without a deal. 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.” Theresa May meeting the Queen after final speech as prime minister – live news
In a pointed message to Johnson, the outgoing chancellor said the headroom built up in the public finances could only be used for tax cuts and spending boosts if a Brexit deal was secured. Johnson has repeatedly promised to take the UK out of the EU on 31 October, with or without a deal. 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 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. In a pointed message to Johnson, the outgoing chancellor said the headroom built up in the public finances could only be used for tax cuts and spending increases if a Brexit deal were secured.
In his letter to May before her 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.” Hammond handed his resignation to May after her final session of prime minister’s questions.“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.” 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. 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.
Earlier, in his resignation statement, Davis warned that the party risked a “very bad outcome” of putting Jeremy Corbyn in government if it is not properly resourced. In his resignation statement, Davis warned the Tories risked a “very bad outcome” of putting Jeremy Corbyn in No 10 if the party were not properly resourced.
The mining tycoon who has been the party’s most generous donor over the last six years wrote to the party’s benefactors on Wednesday saying “one of my greatest bugbears has been the lack of unity in our party”. The mining executive, who has been one of the party’s most generous donors over the past six years, wrote to Conservative benefactors on Wednesday, saying “one of my greatest bugbears has been the lack of unity in our party”.
Johnson is expected to appoint another chief executive within days. John Griffin, the minicab tycoon who has given the party more than £4m over the last six years, has told the Guardian he would consider taking up the role if offered it. Johnson is expected to appoint another chief executive within days. John Griffin, the minicab tycoon who has given the party more than £4m over the past six years, said he would consider taking up the role if it were offered.
In his letter, Davis said Johnson, who was elected leader on Tuesday and will become prime minister on Wednesday afternoon, “should be free to choose a team at CCHQ”.In his letter, Davis said Johnson, who was elected leader on Tuesday and will become prime minister on Wednesday afternoon, “should be free to choose a team at CCHQ”.
“Good politics is not a cheap exercise and if we are not properly resourced and financed we will risk a very bad outcome – Jeremy Corbyn in Number 10,” he said. He added: “Good politics is not a cheap exercise and if we are not properly resourced and financed, we will risk a very bad outcome – Jeremy Corbyn in No 10.”
Davis has become a pivotal figure across the party’s structures under Theresa May and warned supporters in the spring that the party urgently needed more donations to stay afloat. Davis was a pivotal figure in the party’s structure under May and warned supporters in the spring that the Tories urgently needed more donations to stay afloat.
In March, Davis and Brandon Lewis, the party’s chair, addressed a private meeting of the 1922 Committee and told MPs the party was struggling to raise £32m needed for the campaign. In March, Davis and Brandon Lewis, the party’s chair, addressed a private meeting of the 1922 Committee and told MPs the Conservatives were struggling to raise the £32m needed for the European elections campaign.
Griffin, a Brexiter and the founder of the cab firm Addison Lee, has previously criticised Davis’ fundraising tactics for failing to encourage smaller donations from a wider group of members. On Wednesday, Griffin wished Davis “all the best” and said he would consider taking up a bigger role in fundraising for the party if invited. Griffin, a Brexiter and the founder of the cab company Addison Lee, has previously criticised Davis’s fundraising tactics for failing to encourage smaller donations from a wider group of members. On Wednesday, he said: “I would think about it [becoming chief executive] very carefully, but I realise that the new prime minister will have a lot to do right now. But we do need a change in direction to improve the party’s finances.”
“I would think about it very carefully but I realise that the new prime minister will have a lot to do right now. But we do need a change in direction to improve the party’s finances,” he told the Guardian.
Philip HammondPhilip Hammond
ConservativesConservatives
Brexit Conservative leadership
Foreign policy Boris Johnson
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