spot_img

UK Finance Minister Philip Hammond may resign, over no-deal Brexit

Date:

Trending

Finance Minister Philip Hammond said on Sunday he would resign if Boris Johnson became Britain’s new prime minister because he could not support a leader happy to take the country out of the European Union without a deal.

- Advertisement -

Hammond’s decision underlines the strength of feeling in parliament against a no-deal Brexit, which some lawmakers and many businesses say would be catastrophic for the economy.

A loyal Conservative who has served in a number of ministerial roles, Hammond is an unlikely rebel. He said his fears over a no deal had forced him to vote against the government for the first time in his 22-year political career last week.

- Advertisement -

Britain’s new prime minister is tipped to be former London mayor Johnson, who has promised to leave the EU “do or die” by an Oct. 31 deadline.

That leaves him facing a tricky Brexit challenge from the moment he takes office on Wednesday.

- Advertisement -

Johnson has said he would ramp up preparations for a no-deal if he becomes prime minister to try to force the EU’s negotiators to make changes to the deal that Prime Minister Theresa May sealed with Brussels and UK lawmakers voted down.

But parliamentary opposition to a no deal is growing and the EU is refusing to budge over that Withdrawal Agreement.

“I am sure I am not going to be sacked because I am going to resign before we get to that point,” Hammond told the BBC’s Andrew Marr Show, adding he would resign to May before she tenders her own resignation to the Queen on Wednesday.

“Assuming that Boris Johnson becomes prime minister, I understand that his conditions for serving in his government would include accepting a no-deal (EU) exit on the 31st of October. That is not something I could ever sign up to.”

Hammond, who according to sources close to Johnson often infuriated the former mayor who felt the finance minister was “talking Britain down”, said he did not believe his former colleague could win a deal with the EU by the deadline.

He instead advised the new prime minister to ask the EU for a little longer if there were signs that the two sides could agree on a compromise position – something Johnson’s rival for the premiership, Jeremy Hunt, has said he is open to.

If not, Hammond said he would work with other lawmakers to make sure Britain was not taken out of the EU without a deal against parliament’s wishes – a pledge welcomed by the Brexit policy head of the opposition Labour Party, Keir Starmer.

“Yes, (I will campaign) to stop no deal happening on Oct. 31 without the consent of parliament,” Hammond said.

“I want to be a loyal supporter of the next Conservative government and if (it).. can deliver a negotiated Brexit deal that protects our economy then I will strongly support that government. And I hope I will be able to.”

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -
Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.
Advertisement

More Latest Stories

More Articles

Adda247 CEO Bimaljeet Singh Bhasin on Career247 and the Push for Job-Ready Education

In an interview with TechGraph, Bimaljeet Singh Bhasin, CEO of Skilling and Higher Education Business at Adda247, outlines how the persistent gap between academic...

The Future of Preventive Healthcare in India and the Role of Digital Platforms

India is set to decide on the ongoing healthcare evolution, where the main point of emphasis is shifting gradually from curing to preventing diseases. Along with the increase in the number of lifestyle-related diseases, the rise in life expectancy, and the growing awareness among...

How Cloud Infrastructure Is Powering India’s SaaS and App Economy

India's Software as a Service (SaaS) and app economy has become one of the...

Skincare for India’s Condition: SkinInspired Founder Piyush Jain on Making Actives Work for Indian Skin

Speaking with TechGraph, Piyush Jain, Founder of SkinInspired, discussed how India’s skincare market has...

India’s AI Education Push: Redrob COO Kartikey Handa on Building Open AI Models for 300 Million Students

Speaking with TechGraph, Kartikey Handa, Chief Operating Officer and Head of India Operations at...

Dr Kamal Chhabra on KC GlobEd’s Approach to Global Finance and Accounting Education

Speaking with TechGraph, Dr Kamal Chhabra, Founder and CEO of KC GlobEd, discussed how...

Home Improvements That Benefit You Today and Boost Value Tomorrow

When it comes to home improvements, the best upgrades are those that provide immediate...

India’s AIF Shift: Steptrade Capital’s Kresha Gupta on the Evolution of Alternative Investments in India

Speaking with TechGraph, Kresha Gupta, Director and Fund Manager at Steptrade Capital, discussed how...

Why Global Manufacturing Leaders Are Rethinking the Role of Packaging Automation

In the global manufacturing landscape, packaging has quietly evolved from a backend operational activity into a strategic business driver. For companies with turnover above...

Vimal Singh on ReadyAssist’s Role in Modernising Roadside Assistance in India

Speaking with TechGraph, Vimal Singh, Founder of ReadyAssist, discussed how traditional roadside assistance models...

The Shift to Intelligent Hiring: HunarAI’s Krishna Khandelwal on How AI Is Reshaping Recruitment in India

In an interaction with TechGraph, Krishna Khandelwal, Founder and CEO of Hunar.AI, outlined how...

The Rise of Cyber Cartels: How the Dark Web Fuels Digital Extortion?

In 2025, cybercrime has evolved beyond individual hackers or little ransomware criminal gangs into...

The Rise of Emotionally Intelligent AI: What It Means for Customer Experience

A shift is transpiring across customer touchpoints as digital systems start to understand the...

How Autonomous Infrastructure Will Shape the Future of Enterprise Technology in 2026

Autonomous infrastructure is moving from imagination to inevitability. With its strengths in anticipation, analysis, and correction, it is quietly becoming the foundation of modern...

NVIDIA EVP Debora Shoquist Offloads 80,000 Shares for About $14.77 Mn

NVIDIA Corp. (NASDAQ: NVDA) Executive Vice President of Operations, Debora Shoquist has sold 80,000 shares of the company’s common stock in transactions dated December 9, 2025, with the total sale amounting to approximately $ 14.77 million. According to the Form 4 filed with the U.S....

Ram Shriram Reports Transfers of Alphabet Shares Through Trust Annuity Payments

Alphabet Inc. (NASDAQ: GOOGL) Director K. Ram Shriram has reported movements in his Alphabet...

AI Infrastructure Wars: Do Nvidia, Amazon, and Microsoft Still Have Room to Run?

Indian investors are at a pivotal moment. While our domestic markets have seen meteoric...

Meta Declares Quarterly Cash Dividend Of $0.525 Per Share

Facebook parent company, Meta Platforms Inc. (NASDAQ:META) said its board of directors has declared...

Lok Sabha: Government releases ₹68K crore under MGNREGS; wage payments routed via DBT

New Delhi, India: Union Agriculture Minister Shivraj Singh Chouhan said the government has released...

The Evolving Classroom: Venkateshwar International School’s Pooja Sharma on Changing Role of Schools in Delhi’s CBSE Ecosystem

Speaking with TechGraph, Pooja Sharma, Vice Principal of Venkateshwar International School (VIS), discussed how...

Digital Generics: How AI is Redefining the Future of Affordable Medicine

It was with pride that global headlines described India as the world's pharmacy, supplying...

The Road to Equality in Tech: Women In Cloud’s Chaitra Vedullapalli on Reshaping Opportunity for Women Entrepreneurs Globally

In an interview with TechGraph, Chaitra Vedullapalli, Co-Founder of Women In Cloud, discussed how...

How AI is Improving Risk Management Among Crypto Traders

Over the past few years, the role of Artificial Intelligence in almost every sector...

Reimagining Creative Operations: ButtonShift’s Deepankar Das on Bringing Telemetry & Visual Intelligence to Modern Workflows

Speaking with TechGraph, Deepankar Das, Co-Founder and CEO of ButtonShift, discussed how traditional task...

The Rise of Cyber Cartels: How the Dark Web Fuels Digital Extortion?

In 2025, cybercrime has evolved beyond individual hackers or little ransomware criminal gangs into...

Inside Channel Economy: Almonds AI CEO Abhinav Jain on Fixing the Blind Spot in India’s Distribution Ecosystem

Speaking with TechGraph, Abhinav Jain, Co-Founder and CEO of Almonds AI, outlined how India’s...

Kuwait Raises Income Tax Penalty Against IndiGo Operator, Company Plans Legal Action

IndiGo Airline's parent company, InterGlobe Aviation Limited disclosed it received an income tax demand...

Supreme Court Allows Texas to Use New Congressional Map for 2026 Midterms

The U.S. Supreme Court has allowed Texas to move ahead with its newly redrawn...

Beyond Instant Approvals: PayMe CEO Mahesh Shukla on Building Compliant Lending for India’s New Credit Economy

Speaking with TechGraph, Mahesh Shukla, Founder and CEO of PayMe, discussed how India’s digital...

The Rise of Emotionally Intelligent AI: What It Means for Customer Experience

A shift is transpiring across customer touchpoints as digital systems start to understand the...

How AI is Improving Risk Management Among Crypto Traders

Over the past few years, the role of Artificial Intelligence in almost every sector...

The AI Advantage: How Intelligent Learning Solutions Are Rewriting Workforce Productivity in 2025 and Beyond

In 2025, artificial intelligence is no longer a futuristic concept — it’s the invisible...

Reimagining Creative Operations: ButtonShift’s Deepankar Das on Bringing Telemetry & Visual Intelligence to Modern Workflows

Speaking with TechGraph, Deepankar Das, Co-Founder and CEO of ButtonShift, discussed how traditional task...