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. New taskforce to tackle economic crime
  2. Dame Colette Bowe and Dame Jayne-Anne Gadhia appointed to the Financial Policy Committee
  3. More than £2 billion Brexit preparation funding awarded to departments for a successful EU exit
  4. Bloomberg Global Regulatory: Chancellor speech
  5. X Factor charity song 2018: Government to donate VAT to children’s charities
  6. £66 million for shared and integrated education in Northern Ireland
  7. £19 million package to mark armistice centenary
  8. Package of measures unveiled to boost apprenticeships
  9. Iran Nuclear Deal: joint statement by UK, France and Germany
  10. International trade budget boost for global Britain