Hammond takes helm of UK finance ministry to prepare for Brexit

[WorldNews]

By David Milliken LONDON (Reuters) - Philip Hammond took the helm of Britain's finance ministry on Wednesday after new Prime Minister Theresa May appointed the former foreign secretary to succeed George Osborne in a government which will take Britain out of the European Union. Osborne, Chancellor of the Exchequer since 2010 and a leading figure in the unsuccessful campaign to keep Britain in the EU, will join former prime minister and close ally David Cameron in leaving the government. Hammond, 60, served as transport secretary when the Conservatives took power in coalition with the centrist Liberal Democrats in 2010, moving to take charge of defense in 2011.

Continue reading...