Univ Old Member Philip Hammond (1974, PPE) has been named as the new Chancellor of the Exchequer by incoming Prime Minister Theresa May.

Hammond, who became MP for Runnymede and Weybridge in 1997 and gained political prominence the following year when he was appointed Shadow Minister for Health, has already held a number of significant posts during his political career. In opposition these included Shadow Chief Secretary to the Treasury, and Shadow Secretary of State for Work & Pensions, whilst his coalition years saw him take on both Secretary of State for Transport and Secretary of State for Defence.

Although a noted Eurosceptic he campaigned for the Remain camp during the 2016 referendum; he takes over the position of Chancellor from outgoing George Osborne.

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