Hammond asks PM candidates to pledge fiscal discipline

FILE PHOTO: Chancellor of the Exchequer Philip Hammond speaks at the launch of a report, by living standards think tank the Resolution Foundation, on the impact of the higher minimum wage at the Resolution Foundation offices in London, Britain May 30, 2019. Jonathan Brady/Pool via REUTERS

LONDON (Reuters) – British finance minister Philip Hammond said he wrote to the Conservative contenders to succeed Prime Minister Theresa May on Thursday, urging them to commit publicly to existing budget rules and not to throw away the partys reputation for fiscal competence.

“I therefore ask you (to) … have a clear commitment to keeping our national debt falling every year, and to maintain the current limit of the deficit at 2% of GDP at least through 2021-22,” he wrote.

Reporting by David MillikenRead More