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

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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.

 

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