Hammond rejects idea of Emergency Budget

Newly-appointed Chancellor of the Exchequer

Philip Hammond, newly appointed Chancellor of the Exchequer, has said there will be no Emergency Budget in the wake of a reshuffle in the government.

Hammond (pictured) was the first appointment made last night in the new Cabinet formed by Prime Minister Theresa May. He was formerly Foreign Secretary, a position now held by Boris Johnson. In an interview with the BBC, Hammond explained the focus would be working with the Bank of England to prepare for the Autumn Statement later this year.  "We will want to work closely with the governor of the Bank of England and others through the summer to prepare for the Autumn Statement, when we will signal and set out the plans for the economy in what are very different circumstances that we n...