Hammond: Candidates' promises 'exceed fiscal headroom'
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Hammond: Tory candidates' promises 'exceed fiscal headroom'

Chancellor Philip Hammond has said the spending promises set out by Jeremy Hunt and Boris Johnson "exceed" the "fiscal headroom" available to the government.

Urging the Tory rivals to be cautious about their commitments, he said promises made in the heat of a leadership fight would result in either more borrowing or tax rises.

  • 01 Jul 2019