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Chancellor of the Exchequer Philip Hammond said he plans to quit his post on Wednesday if Boris Johnson beats Foreign Secretary Jeremy Hunt in the race to succeed Prime Minister Theresa May. In a BBC TV interview, he cited Johnson’s demand that members of his government should accept the chance of a no-deal Brexit on Oct. 31.

"That is not something I could ever sign up to," Hammond said. "It’s very important that a prime minister is able to have a chancellor who is closely aligned with him in terms of policy, and I therefore intend to resign to Theresa May before she goes to the palace to tender her own resignation on Wednesday."

Asked if he’d also quit if Hunt were to pull of a surprise and beat the favorite, Hammond suggested he wouldn’t, saying "Jeremy’s position is more nuanced and I haven’t heard him express clearly a requirement for a sort of loyalty pledge around the Oct. 31 no-deal exit."

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