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UK's Hammond quits as finance minister before Johnson becomes PM

UK's Hammond quits as finance minister before Johnson becomes PM

Finance minister Philip Hammond, who has made it clear he will resign rather than serve under Boris Johnson, is dead set against a no-deal Brexit (Photo: AFP/Chris J Ratcliffe)

LONDON: British finance minister Philip Hammond resigned from the government on Wednesday (Jun 24), following through on a promise to leave rather than serve under incoming prime minister Boris Johnson.

Hammond - who strongly opposes leaving the European Union without a deal - said he had left the economy in a state that would allow his successor to choose between tax cuts, higher spending or faster debt reduction if they left the EU smoothly.

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

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