Philip Hammond, Chancellor of the Exchequer

Philip Hammond, Chancellor of the Exchequer

Since 2016 Hammond has delivered two Budgets and continues to play an important role in Brexit planning

Bio

Philip Hammond graduated from University College, Oxford, having studied Philosophy, Politics and Economics.

After graduation, Hammond held various roles in businesses across the house building and property, manufacturing, healthcare, and oil and gas industries.

He was elected to Parliament in 1997 as MP for Runnymede and Weybridge.

Hammond’s first cabinet role was as Secretary of State for Transport, a position he held between 2010-2011, after which he came Secretary of State for Defence between 2011-2014.

Between 2014-2016, Hammond acted as Secretary of State for Foreign and Commonwealth Affairs.

In July 2016 he was appointed to his current role of Chancellor of the Exchequer.

 Why is he on the Financial Power List ?

Philip Hammond comes second on the Financial Power List 2018.

As Chancellor of the Exchequer, Hammond heads the Treasury and oversees the government’s fiscal and monetary policy.

Hammond has delivered two Budgets since assuming the role in 2016 due to timetable changes; the first was overshadowed by a U-turn on NIC rises, and the second dominated by a pledge to slash stamp duty tax for first time home buyers.

The Chancellor’s moderate approach to Brexit has drawn ire from Eurosceptics and pro-EU MPs alike, and this friction is likely to continue into 2018.

Brexit planning and building thousands of new homes will be priorities for the Chancellor in the upcoming year.

HM Treasury

The Treasury is government’s economic and financial ministry, which maintains control over public spending and sets the direction of the UK economic policy. It strives to achieve strong and sustainable economic growth.

It’s responsibilities include overseeing financial services policy, strategic oversight of the UK tax system, and the delivery of infrastructure projects across the public sector and facilitation of private sector investment into UK infrastructure.

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