Philip Hammond resigns as Boris Johnson prepares for No 10 – newest information

Philip Hammond resigns as Boris Johnson prepares for No 10 – latest news

2019-7-24 13:33:38

Could: will proceed to serve in nationwide curiosity

Theresa Could used her final speech to say that she would journey to the Queen to advise her to nominate Boris Johnson as PM, wishing him luck within the months and years forward.

She thanked her colleagues, public staff, the British individuals and her husband, including she would proceed to work within the nationwide curiosity, and that the UK was a “nice nation with a terrific future”.

2019-7-24 13:26:07

Resignation watch: David Lidington

Cupboard minister David Lidington has turn out to be the most recent member of Theresa Could’s
authorities to resign from the entrance bench. The professional-Stay Tory minister – and Europe minister from 2010 to 2016 – had as soon as been mooted to switch Theresa Could as an interim PM if she had been ousted through the Brexit votes.

2019-7-24 13:17:44

Could to make final public deal with

The lectern is out in entrance of Quantity 10 Downing Avenue for Mrs Could’s final public look as prime minister earlier than she travels to Buckingham Place handy in her resignation to the Queen.

2019-7-24 13:02:55

Stewart follows Hammond by the exit

Rory Stewart, the strolling fanatic and one-time management hopeful, seems to have confirmed his resignation with an upside smile emoji. He was the secretary of state for worldwide improvement, a place in cupboard he held for below two months.

2019-7-24 12:56:48

Cameron to Johnson: I want you properly

David Cameron, a person who can now add “being prime minister” to the listing of issues he has in frequent with Boris Johnson, has despatched a message of help to his former schoolmate.

2019-7-24 12:38:04

Resignation watch: Hammond out

No nice shock, however Philip Hammond has formally resigned as chancellor. In his letter he says he has left the brand new authorities with “decisions” as as to whether it ought to improve public spending, lower taxes, improve funding or velocity up debt discount.

“After a decade when the aftermath of the 2008-09 recession meant we had no decisions, this can be a luxurious which our successors ought to use properly.”

David Gauke and Rory Stewart are anticipated to comply with go well with imminently.

2019-7-24 12:25:37

Applause for Could

Theresa Could is ready to make a press release outdoors Quantity 10 after lunch together with her husband within the Downing Avenue backyard.

A spherical of applause was heard from a courtyard under the Monetary Instances’ Westminster workplace as workers lined as much as thank Mrs Could as she left the palace for the final time as prime minister, studies Robert Wright.

2019-7-24 12:24:06

YouGov: Lib Dems acquire floor

The Liberal Democrats, who fell out of favour with their trustworthy voters once they shaped a coalition with the Conservatives in 2010, are at the moment within the operating to be the UK’s predominant opposition get together, in keeping with a YouGov ballot.

The centrist get together, which has pushed a Stay agenda whereas Jeremy Corbyn’s Labour has appeared to fail to make up its thoughts about Brexit, would get 23 per cent of the vote if a common election have been held tomorrow, YouGov discovered from a survey of 1,715 individuals.

Meaning the Lib Dem’s recognition has elevated by three proportion factors since final week, the place it received 20 per cent of the hypothetical vote in a YouGov survey and was in third place after the Conservatives and Labour.

The distinction could also be Jo Swinson, the 39-year-old new Lib Dem chief who was elected two days in the past and stated she’s going to do “no matter it takes” to cease Brexit.

2019-7-24 12:21:33

Sterling climbs in early afternoon buying and selling

The pound bounced as much as a four-session excessive through the exchanges in Westminster, writes the FT’s Michael Hunter, rising by as a lot as zero.7 per cent for the day and crossing again above the $1.25 line to $1.2522.

Sterling was additionally on track for its largest rally in opposition to the euro since Could, strengthening by zero.6 per cent with £zero.8915 required for a unit of the shared foreign money.

The euro has seemed uncovered after extra weak financial knowledge from Germany forward of a financial coverage assembly on Thursday, at which the European Central Financial institution is predicted to open the way in which for extra stimulus.

Evaluation from UBS remained pretty bullish on the pound. Mark Haefele, chief funding officer of UBS’s international wealth administration enterprise, argues that the market is “overstating” the chance of a no-deal Brexit, including: “Our view is that the probably path within the brief time period is for an additional extension to the UK’s 31 October exit day, both on account of a change in stance from PM Johnson, or within the case of a common election.”

2019-7-24 12:09:42

Timetable for the remainder of the day

Theresa Could is predicted to journey to Buckingham Palace at 2.30pm handy her resignation to the Queen, who will then invite Boris Johnson to the palace and ask him to type the following authorities.

Mr Johnson is ready to ship a speech at Downing Avenue at about 4pm, earlier than heading to his new house for the primary time as prime minister, after which asserting his predominant cupboard picks.

2019-7-24 12:05:03

Could ends her final PMQs

The prime minister leaves the despatch field to hearty applause and a standing ovation from her facet of the Home.

Many on the Labour benches stay seated, with some clapping their arms slowly.

Mrs Could’s last query got here from Harriet Harman, writes the FT’s Robert Wright. She ended her reply by praising the hyperlink between constituencies and MPs, saying they have been the “bedrock” of the UK’s liberties. In a closing line that drew uncommon applause from MPs, Mrs Could stated: “That obligation to serve my constituents will stay my biggest motivation.”

2019-7-24 12:02:06

Rees-Mogg thanks Could

Arch Brexiter Jacob Rees-Mogg, who tried to oust the prime minister final yr, thanks Mrs Could for her “exceptional public service”, saying she has proven highest of virtues in her sense of obligation.

Mrs Could responds to say she seems ahead to working with him in future, including the Commons is supposed to be about debate and dialogue.

2019-7-24 11:58:26

Feminine management

Mrs Could feedback that just one political get together out of the 9 represented in Westminster has by no means had a feminine chief, and that’s the Labour get together.

2019-7-24 11:45:49

Could’s report on trendy slavery
A query from Caroline Spelman provides Mrs Could the chance to say her dedication to eradicating trendy slavery – one thing that has been a signature subject for her since her time within the House Workplace, Robert Wright writes.

“She is true it’s an absolute scourge and we should proceed to combat it,” Mrs Could tells Dame Caroline. “We should proceed to lift consciousness of it as a result of there are too many individuals on this nation… who discover themselves trafficked into efficient slavery.”

2019-7-24 11:40:10

Temporary cricket interlude…

Bloomberg’s Thomas Penny factors out on Twitter that Mrs Could ought to hurry up if she needs to emulate John Main and get to the cricket.

In his last speech in 1997, the previous Conservative prime minister joked that he wanted to see the Queen after which get to the Oval in time for lunch.

England are at the moment 43-7 within the first session of their first check in opposition to Eire.

2019-7-24 11:32:01

Leaning on her deputy?

Here’s a display seize from PMQs by our eagle-eyed image editor Helen Healy.

It exhibits Theresa Could sitting carefully together with her de facto deputy prime minister, the Cupboard Workplace minister David Lidington.

She may, nevertheless, be leaning again to place her ear to the mini-speaker that is in-built behind her.

Mr Lidington was mooted to take over as interim prime minister if Mrs Could had been ousted earlier than her successor was appointed.

Remainer Mr Lidington seems lower than ecstatic about his boss leaving, though Mrs Could appears relieved to be heading to the again benches for a well-earned relaxation.

Mrs May additionally takes the chance to recognise the help of Philip Could, who’s within the Friends’ gallery above her within the chamber. “I am very happy to have the ability to see my husband within the gallery at this time.”

2019-7-24 11:28:07

Could to move to the backbench

Mrs Could says she has “made it very clear” what she can be doing together with her time after she’s now not prime minister, writes the FT’s Robert Wright.

“I can be persevering with on this home because the member of parliament for Maidenhead.”

Invited to criticise Boris Johnson’s function in her authorities, Mrs Could performs defensively.

“My successor will proceed to ship the Conservative insurance policies which have improved the lives of individuals up and down this nation since we have been elected in a coalition authorities in 2010. There’s a lengthy listing of enhancements which have taken place since 2010 and I look ahead from the backbenches to giving full help to my successor.”

2019-7-24 11:23:04

Sturdy final PMQs

The exchanges between Theresa Could and Jeremy Corbyn have been much more strong and entertaining than has been typical between two typically underwhelming parliamentary performers, writes the FT’s Robert Wright.

Challenged by the Labour get together chief to say she was assured Mr Johnson would be capable of safe a deal when she had not, Mrs Could responded by attacking Mr Corbyn over his function within the authorities’s failure to push its Brexit deal by parliament. “I voted for the deal,” Mrs Could stated, sounding genuinely offended.

“What did the correct honourable gentleman do? He voted in opposition to a deal. He voted to make no-deal extra doubtless and, when there was a prospect of reaching consensus throughout this home, the correct honourable gentleman walked away from the talks. At each stage, his solely curiosity has been taking part in get together politics and, frankly, he needs to be ashamed of himself.”

Mrs Could rejected calls from Mr Corbyn for a common election after which, after some form phrases about their relationship, Mrs Could ended her final reply to Mr Corbyn with a thrust at his unpopularity along with his personal MPs.

2019-7-24 11:19:33

Could: time for Corbyn to go

The outgoing prime minister provides a parting shot at Jeremy Corbyn, saying that it was “the final time we can have this trade throughout these despatch packing containers…” however
as a celebration chief who has accepted when her time is up maybe it’s time for him to do the identical.

2019-7-24 11:14:02

Corbyn: Johnson has no mandate in any respect

The Labour chief asks Mrs Could whether or not she has confidence that Mr Johnson will succeed the place she has not in delivering a Brexit deal that might get by parliament.

Mrs Could responds by attacking Mr Corbyn for taking part in get together politics as a substitute of serving to her get hear deal by.

The Labour chief turns again to Mr Johnson, who he says “thought the European Union made guidelines about kippers”, which have been really drawn up within the UK.

“At the beginning of 2018…the prime minister herself arrange a brand new unit to counter faux information,” Mr Corbyn continues.

“Possibly…she will have a phrase together with her successor on her approach out,” he says, in a punchline that loses any potential zing as a result of Mrs Could interrupts his joke midway by.

Mr Corbyn then requires a common election.

2019-7-24 11:09:31

Corbyn: what public service report?

The chief of the opposition says that below Mrs Could, police numbers are down, GP numbers are down and tough sleeping has not been solved.

Mrs Could says the variety of homeless individuals dwelling on the streets has fallen (fairly probably counting on the official one-night depend of tough sleepers that many homelessness charities says significantly understates the issue).

Mr Corbyn says it’s improper that anybody ought to find yourself sleeping outdoors within the fifth richest nation on the earth.

2019-7-24 11:08:01

Corbyn: work collectively to oppose successor

The chief of the opposition, Jeremy Corbyn, begins by applauding Mrs Could’s public service on her last day in workplace. Then, in an early poke at Boris Johnson, says that he now seemed ahead to working together with her and the outgoing chancellor to “oppose the reckless plans of her successor”.

2019-7-24 11:04:58

Could’s PMQs swansong begins sweetly

As anticipated, the outgoing prime minister is taking “questions” which might be actually congratulatory statements from the Conservative again benches.

Proper now she is recalling how she has helped to forestall smoking, following a press release of thanks from Conservative MP Bob Blackman.

2019-7-24 11:01:44

Hammond heads out of No 11 for good

Philip Hammond has simply left No 11 Downing St, residence of the chancellor, presumably for the final time. Mr Hammond has already promised to resign slightly than serve in a Johnson authorities, though he would have been sacked instantly anyway.

Mr Hammond is predicted to hitch the rising band of anti-no-deal Tory rebels on the backbenches, together with fellow cupboard escapees – David Gauke and Rory Stewart.

2019-7-24 10:59:08

Could to take last MP questions

Theresa Could has entered the Home of Commons to make her last deal with to parliament when she stands to take Prime Minister’s Questions.

2019-7-24 10:39:11

Sterling up… a bit

The pound has risen barely this morning in opposition to each the greenback and the euro. However nonetheless under the place it was per week in the past.

2019-7-24 10:37:24

Resignation watch – Mick Davis

A key function of at this time can be who resigns from cupboard and key get together roles forward of the appointment of the brand new Johnson authorities.

First up: Tory get together chief government Mick Davis has been reported to have tendered his resignation this morning. Chancellor Philip Hammond, justice secretary David Gauke and worldwide improvement secretary Rory Stewart have already stated they intend to resign at this time.

2019-7-24 10:36:54

Different runners and riders

Youth and ethnic variety have emerged as themes of Mr Johnson’s doubtless picks.

Rishi Sunak (pictured), the 39-year-old Stanford-educated son-in-law of high Indian industrialist Narayana Murthy, is predicted to be promoted from his present function as housing under-secretary.

MP for Studying West, Alok Sharma has turn out to be used to reshuffles, having been moved from housing minister to the division for work and pensions below Theresa Could in 2018. He’s the third doubtless appointee with an Asian background, reflecting a pledge by Mr Johnson to make his cupboard numerous and for it to raised characterize trendy Britain.

Robert Jenrick, who’s 37 however has already labored as a solicitor in London and Moscow and been worldwide managing director of artwork vendor Christie’s, is tipped for a cupboard submit.

Remainer and David Cameron’s former chief of workers Oliver Dowden, aged 40, may be part of his two younger colleagues, with whom he wrote letter to the Instances final month arguing Mr Johnson was the one candidate who may save what they seen because the imperiled Conservative get together.

One other tipped for a cupboard function is Tracey Crouch, who resigned as sports activities minister final autumn after the Treasury delayed plans to chop the utmost bets gamblers may stake on mounted odds betting terminals, often called the “crack cocaine” of gaming machines for a way quickly they’ll turn out to be addictive.

2019-7-24 10:27:46

A comeback for Patel?

Priti Patel resigned as worldwide improvement secretary in November 2017 after it emerged she had held undisclosed conferences with a lobbyist and Israeli politicians.

Maybe sensing the chance for a cupboard comeback, Ms Patel was a staunch supporter of Mr Johnson’s management marketing campaign, having stated in a tweet final week that he could be “a Prime Minister who believes in Britain.”

2019-7-24 10:23:05

Who can be in Johnson’s cupboard?

Names within the body to get the keys to No 11 Downing Avenue as Mr Johnson’s chancellor embrace Sajid Javid (pictured) and Liz Truss.

Mr Javid, the house secretary and a state-school educated former funding banker was knocked out of the Conservative management race final month. He then switched to supporting Mr Johnson’s marketing campaign and commenced speaking in regards to the want for an “emergency Finances” to reduce the affect of a no-deal Brexit, resulting in rising hypothesis that he could be handed the keys to No 11 Downing Avenue.

A backer of Mr Johnson’s marketing campaign, Ms Truss has offered herself in current months as pro-business and pro-wealth. She stated in a keynote speech on the Monetary Instances’ Brexit and Past convention in Could that Britain was contaminated by an “insidious” anti-wealth sentiment.

In her present function as chief Treasury secretary, Ms Truss has been accountable for main a evaluate into whether or not austerity insurance policies ought to finish. She admitted final month that the general public spending examine would now should be delayed due to the Conservative management election.

2019-7-24 10:20:05

Cummings to key Johnson function

The early appointments to the Johnson regime are already being leaked, with one of the crucial placing up to now Dominic Cummings, the previous chief of Vote Go away, set to be chosen as a senior adviser to Boris Johnson. Former Sky finance chief Andrew Griffith has been lined up as Mr Johnson’s enterprise adviser.

2019-7-24 10:13:14

Boris Johnson to enter Downing Avenue

Welcome to the FT’s dwell weblog on an enormous day for the UK as Boris Johnson turns into prime minister, changing Theresa Could who will formally resign to the Queen this afternoon. Mr Johnson will then be appointed prime minister and enter Downing Avenue to decide on his cupboard.

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