Introducing… the May team

Ryan Fowler

July 14, 2016

With Theresa May now safely ensconced in Number 10 her cabinet is now starting to take shape. Mortgage Introducer looks at the key movers and shakers in the new Prime Minister’s inner circle.

Confirmed so far (00:01 14 July) are:

Prime Minister – Theresa May (Remain)

Previously home secretary May becomes the second female Prime Minister. She had been at the home office for more than six years.

She was notably quiet during the referendum campaigns and has committed to leaving Europe based on the choice of the British people – in her words “Brexit means Brexit”.

Chancellor of the Exchequer – Philip Hammond (Leave)

Was foreign secretary but has long coveted the role of chancellor. Replacing George Osborne Hammond has a strong track record in business and has worked in the property sector in the past.

He is reported to be one of the richest individuals in the cabinet with the success of the property company he co-founded said to have netted him an £8m fortune.

Home secretary – Amber Rudd (Remain)

Rudd spent the last year as energy and climate Minister. The MP for Hastings and Rye graduated from Edinburgh University with a degree in history before going on to work in investment banking in both the UK and US.

After being elected as an MP in 2010 Rudd was parliamentary private secretary to the chancellor from 2012-2013.

Foreign secretary – Boris Johnson (Leave)

Former mayor of London Boris Johnson was at the fore of the campaign to leave the EU but looked set for a period on the back benches following his ousting by fellow Brexiteer Michael Gove.

However despite claiming just yesterday that he was unlikely to see the front bench following the elevation of May to the top job he now finds himself in a senior cabinet position.

Secretary of state for exiting the EU – David Davis (Leave)

Previously Davis served as Europe minister in the 1990’s and has since served as shadow home secretary.

Davis has also stated that he does not believe in guaranteeing the status of EU nationals in the UK until other countries reciprocate the deal: a potential issue for financial services with a number of EU nationals occupying key positions.

Secretary of state for international trade – Liam Fox (Leave)

Liam Fox has taken on the newly created position of secretary of state for international trade.

He had been defence secretary but resigned in 2011 over allegations he had given a close friend access to the Ministry of Defence.

Fox is a Eurosceptic who voted to leave the EU and he also stood unsuccessfully for the party leadership in 2005.

Defence secretary – Michael Fallon (Remain)

The defence secretary remains in place following the change at the top. He was MP for Darlington from 1983 to 1992 during Margaret Thatcher’s time in power before being re-elected as MP for Sevenoaks in 1997.

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