UK: Chancellor Phillip Hammond Resigns

U.K. chancellor Phillip Hammond resigned on Wednesday from his post following the election of Boris Johnson as Britain's next prime minister.

Hammond announced his resignation after Theresa May's final session of the prime minister's question time and before she met the Queen to deliver her resignation. The former chancellor said he would resign before Johnson took office.

"I am writing to submit my resignation as Chancellor of the Exchequer ahead of your own resignation as Prime Minister this afternoon. I believe that your successor must be free to choose a Chancellor who is fully aligned with his policy position," Hammond said in his resignation letter.

"It has been a privilege to serve as your Chancellor for just over three years since you assumed office in July 2016. Despite the uncertainty created by the unresolved issue of Brexit, we have been able to make notable progress in rebuilding the public finances and preparing the British economy for the opportunities ahead," he added.

At loggerheads with Johnson regarding Brexit, Hammond was at the forefront denouncing Johnson's support for a no-deal Brexit, warning of severe consequences if the U.K. left without a deal. He previously said that he would resign rather than be sacked by Johnson.

Hammond's resignation followed the departures of two other senior government members, David Gauke and Rory Stewart.

Following the former Chancellor's resignation, former Defense Secretary Penny Mordaunt, Transport Secretary Chris Grayling, Education Secretary Damian Hinds, and Scottish Secretary David Mundell also resigned from their positions in the government.

Former International Trade Secretary Liam Fox and Business Secretary Gregg Clarke were both sacked by Boris Johnson upon taking office in Downing Street. David Lidington, the minister of the cabinet office, also resigned from the government.

Jeremy Hunt, the foreign secretary and former leadership candidate who was defeated by Johnson on Tuesday, also resigned from his position, stating that he would have been honored to continue as foreign minister but understands the need for Johnson to choose a new team.

On Monday, Sir Alan Duncan, a senior Foreign Office minister, resigned in protest to Johnson, describing Brexit as a "dark cloud" and on Tuesday, while Education Minister Anne Milton also resigned from her position.

Johnson was elected prime minister on Tuesday by the membership of the conservative party after receiving 92,153 votes. He is expected to form his new cabinet in the coming days and outline his national policies as well as a new Brexit agreement with the EU. -