Philip Hammond said that he would abandon his office once Boris Johnson assumes as the new first minister. According to him, the reason for his impending step down is due to irreconcilable differences.

Based on sources, the United Kingdom’s Chancellor of the Exchequer does not support the Brexit, while Boris is in favor of the said deal. 

The Brexit deal compels London to isolate from the E.U., especially on its financial endeavors. Instead of engaging trades under the E.U., London will conduct trades following the rules of the World Trade Organizations. 

In his interview with BBC’s Andrew Marr Show, Philip stressed that the new prime minister must have the same political agenda with the chancellor. He noted that if the officials are on the same ground, it will be easier for them to craft productive measures. He also informed the press that he would tender his resignation next week. 

When asked on his stand if Jeremy Hunt, the other contender for the PM post, will defeat Boris, the Chancellor said that his decision would still be the same.  However, he firmly believes that Boris will take the post since he got overwhelming support from the public.  

On the other hand, Johnson held a media briefing to clear the issue.

He stressed that the U.K. would benefit a lot from the Brexit deal.

Boris emphasized that countries that are not under the sanction of E.U. have grown their respective markets in the past years. He said that it is about time for the U.K. to boost its economy.  

Despite his plan to surrender his post, Philip said that he will still be active in the politics of the U.K. He hopes that the best deal for the greater good of Britain will be crafted soon.