Chancellor of the Exchequer

The Rt Hon Philip Hammond MP

Biography

The Rt Hon Philip Hammond was appointed Chancellor of the Exchequer on 13 July 2016. He was elected Conservative MP for Runnymede and Weybridge in 1997.

Education

Philip was born in Epping, Essex in 1955 and attended school in Brentwood before studying politics, philosophy and economics at University College, Oxford.

Political career

He was previously Secretary of State for Transport from May 2010, when he was appointed as a Privy Counsellor. Prior to this, he held a number of shadow portfolios. He was elected to Parliament in 1997 and was Secretary of State for Defence from 2011 until July 2014. Philip served as Foreign Secretary from July 2014 until July 2016.

Career outside politics

Philip had a business career in small and medium-sized companies in manufacturing, consultancy, property and construction, and oil and gas, both in the UK and abroad.

Personal life

He is married with 3 children and lives in Send, Surrey.

Chancellor of the Exchequer

The Chancellor of the Exchequer is the government’s chief financial minister and as such is responsible for raising revenue through taxation or borrowing and for controlling public spending. He has overall responsibility for the work of the Treasury.

The Chancellor’s responsibilities cover:

  • fiscal policy (including the presenting of the annual Budget)
  • monetary policy, setting inflation targets
  • ministerial arrangements (in his role as Second Lord of the Treasury)

Previous roles in government

  1. Secretary of State for Foreign and Commonwealth Affairs

    • 2014 to 2016
  2. Secretary of State for Defence

    • 2011 to 2014
  3. Secretary of State for Transport

    • 2010 to 2011

Announcements

  1. North West entrepreneurs bolstered through £2.5 billion of government-backed finance
  2. TheCityUK Annual Dinner 2019: Chancellor's speech
  3. Spring Statement 2019 date confirmed
  4. Joint Statement: United Kingdom and the Swiss Confederation sign agreement on direct insurance other than life assurance
  5. Switzerland and UK to sign post-Brexit Insurance deal
  6. Davos 2019: Chancellor’s speech at the CBI’s British business leaders lunch
  7. Hammond tells Davos: “Britain is a great place to do business”
  8. New taskforce to tackle economic crime
  9. Dame Colette Bowe and Dame Jayne-Anne Gadhia appointed to the Financial Policy Committee
  10. More than £2 billion Brexit preparation funding awarded to departments for a successful EU exit