UK’s May keeps Hammond as finance minister
British Prime Minister Theresa May kept finance minister Philip Hammond in his job on Friday (June 9), a day after she was weakened by failing to win a parliamentary majority in an election.
Before the election there had been widespread speculation in the British media that May would replace Hammond if she won a large majority.
Hammond’s reappointment makes it less likely that the government will significantly relax its grip on public spending after the left-wing Labour Party secured a better-than-expected election result with a plan to invest more in public services.
Hammond, 61, was named chancellor of the exchequer by May shortly after she took over as prime minister nearly a year ago, in the wake of Britain’s decision to leave the European Union.