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. Work kicks-off to examine digital competition in UK
  2. Swansea receives £36 million UK government funding for its clean energy tech breakthrough
  3. IMF Article IV Press Conference 2018: Chancellor's statement
  4. £80 million funding boost will help Scottish universities and businesses develop ‘quantum’ technology that could help save lives
  5. Chancellor letter to Chair of Treasury Committee on ‘no deal’ Brexit economic analysis
  6. Billion-pound backing for British innovation
  7. UK-Brazil 3rd Economic and Financial Dialogue: policy outcomes
  8. Chancellor announces £12 million for Bombardier and invites Derry-Londonderry city deal bid
  9. Chancellor in Saudi Arabia: 8-9 July
  10. China and the UK – committed partners to open trade and free markets