UK Treasury Chief Vows to Quit if Boris Johnson Becomes PM
British Treasury chief Philip Hammond said Sunday that he will quit if _ as widely expected — Boris Johnson becomes prime minister this week on a promise to leave the European Union with or without a divorce deal. Hammond said Johnson's vow to press for a no-deal Brexit if he can't secure a new agreement with the EU is "not something that I could ever sign up to.'' Hammond was almost certain to be removed from office by the new leader in any case. He has angered Brexit-backers, who now dominate the governing Conservative Party, with his warnings about the economic pain that leaving the EU could cause. Hammond told the BBC that if Johnson wins, "I'm not going to be sacked because I'm going to resign before we get to that point.'' Johnson is the strong favorite to win a two-person runoff to lead the Conservative Party and the country. The winner is being announced Tuesday, with the victor taking over from Prime Minister Theresa May on Wednesday. Britain is due to leave the EU on Oct. 31 but Parliament has repeatedly rejected the divorce deal struck between May and the bloc. Both Johnson and his rival Jeremy Hunt, the current foreign secretary, say they will leave the EU without an agreement if the EU won't renegotiate. Most economists say quitting the 28-nation bloc without a deal would cause Britain economic turmoil. The U.K.'s official economic watchdog has forecast that a no-deal Brexit would trigger a recession, with the pound plummeting in value, borrowing soaring by 30 billion pounds ($37 billion) and the economy shrinking 2% in a year. But Johnson, who helped lead the "leave" campaign in Britain's 2016 EU membership referendum, says a no-deal Brexit will be "vanishingly inexpensive" if the... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, UK Treasury Chief Vows to Quit if Boris Johnson Becomes PM, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you
Published By: VOA NEWS - Sunday, 21 July
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