British finance minister ‘prepared to resign’ over May’s spending plans

Vastavam web: British finance minister Philip Hammond is “prepared to resign” over Prime Minister Theresa May’s legacy spending plans, ITV said on Tuesday, citing the Press Association. Senior government sources told the Press Association that tension between officials at the Treasury and the prime minister’s office had reached boiling point over May’s spending intentions, according to ITV.

May’s intention to spend up to 9 billion pounds ($11.3 billion) each year on education over three years, including plans to build new schools and pay teachers higher wages have sparked tension, it said, citing a well-placed source.

The British government is understood to be asking Hammond to free up money from the 26.6-billion-pound “war chest” he set aside in case of a no-deal Brexit to fund the plans, according to the report. Theresa May resigned as the Conservative party’s leader on June 7 but said she would stay on as prime minister until the leadership contest was concluded.