UK finance minister Philip Hammond prepares to resign over PM May’ spending plans: ITV

Must Read

Sanju Samson to replace Shikhar Dhawan in T20 series against WI

Sanju Samson will replace injured Indian opener Shikhar Dhawan in the T20s series against West Indies starting from next...

Supreme Court lashes out on Centre & Delhi govts for Rising Pollution

The Apex Court of the Country, the Supreme Court on Monday lashed the Central and State Government for their...

Harbhajan Singh wishes BCCI Prez Sourav Ganguly to change Selection Panel

The Indian off-spinner Harbhajan Singh on Monday urged Sourav Ganguly, President of BCCI (The Board of Control for Cricket...

Britain, June 18: British finance minister Philip Hammond is “prepared” to step down over Prime Minister Theresa May’s intentions regarding spending plans, according to ITV citing the Press Association on Monday.

According to the Press Association, the senior government stated frictions between officials at the prime minister’s office and at the treasury’s office had gained a boiling point over the spending intentions of May, as ITV reported.

The prime minister’s intention to spend funds worth $11.3 billion (up to 9 billion pounds) on education per year for over three years, including further plans to construct new school buildings and hike wages of teachers, have ignited tensions between two leaders, ITV said while citing a properly-placed source.

It added, her chancellor, Hammond has opposed all those plans and said he is “prepared to resign”, what it would be a surprise move just weeks ahead of May leaving her office, as per Reuters news reports.

According to the reports, the United Kingdom (UK) government is acknowledged to be urging the finance minister to free up funds from the 26.6-billion-pound “war chest”, which he set aside in case the British government fails to reach an agreement with the European UnionBrexit deal, in order to fund the plans.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Integrated logistics startup Allcargo buys controlling stake in Gati for around INR 416 cr

Marking its foray into the express logistics race, Allcargo, an integrated logistics startup, has reportedly bought a majority stake...

Punjab govt looks to set up INR 100 cr startup fund to support MSMEs, entrepreneurs

With a view to support the Indian startup ecosystem, the Punjab government is looking to set up an INR 100 crore startup fund to...

Govt to deploy bigger funds for startup to boost Startup India scheme, says Piyush Goyal

In order to surge the Startup India scheme, which was started by Prime Minister Narendra Modi, the Commerce and Industry Minister, Piyush Goyal, said...

Govt orders e-commerce unicorns Amazon, Flipkart to submit annual compliance reports as per FDI norms

Stating stiff laws against violation of foreign direct investment (FDI) by the e-commerce platforms such as Amazon and Flipkart, the government has now made...

Disney to make a spin-off of ‘Aladdin’ character Prince Anders

The Walt Disney Studio is developing a spin-off from one of its live-action remakes, marking it for the first time, according to The Hollywood...
- Advertisement -

More Articles Like This