The Chancellor is to pledge around £4.5 billion to plug the post-Brexit funding gap for key European Union-backed projects.Read the full story ›
Chancellor Philip Hammond has been making clear the issues he sees as his priorities in his new role.
Mr Hammond began his first day in the job by doing the media rounds, and ITV News political editor Robert Peston has been observing his comments:
So priority for Hammond is taking steps to make investment by biz more attractive
Hammond will consider slower deficit reduction
Hammond admits Brexit has created uncertainty for Hinkley Point C nuclear power project - though wants it to go ahead
Hammond: we need to ensure access to EU single market for our financial services
Hammond's underlying message: he hopes Bank of Eng provides short-term stimulus today with interest-rate cut while he works out what to do!
Philip Hammond has said there is no plan for an emergency budget, and and vowed to "do whatever is necessary to keep the economy on track".
The new chancellor told ITV's Good Morning Britain: "There will be an Autumn statement in the normal way and then there will be a budget in the normal way."
Mr Hammond's predecessor in the role, George Osborne, had said ahead of the referendum that an emergency budget would be necessary in the event of a Leave vote.
Asked whether his replacement of Mr Osborne was punishment for scaremongering ahead of the vote, Mr Hammond said the new cabinet roles were "not about punishing people or rewarding people".
Speaking about Boris Johnson, who takes over from him as foreign secretary, Mr Hammond noted that they both had different styles, saying "we are very different people", but said he believed Mr Johnson would be "good in this job".
Philip Hammond is expected to be named as incoming prime minister Theresa May's chancellor, Robert Peston says.
Our political editor said Amber Rudd is tipped to replace May as home secretary.
However, he said speculation was mounting that George Osborne will not accept a "downgraded" foreign secretary role and will leave the government.
"Cabinet reshuffles are complicated puzzles...don't blame me if it looks a bit different in a few hours time."
Philip Hammond remained silent on speculation that he will be appointed chancellor by prime minister in waiting Theresa May.
Foreign Secretary Philip Hammond has dismissed suggestions that politicians needed to be parents to be good prime ministers.
He pointed to May's depth of experience compared to her rival.
"Most of my colleagues [foreign ministers] do not know Andrea Leadsom, have never heard of Andrea Leadsom," he said as he attended the Nato summit in Warsaw.
"Many of them do know Theresa May from the joint meetings of interior ministers and foreign ministers we have had in response to dealing with CT [counter-terrorism] issues in the European Union. She is a known quantity and her reputation goes before her."
Foreign Secretary Philip Hammond has said that it was a mistake to remove members of Saddam Hussein's government from positions of power following the Iraq War.
Many Ba'athist military officers who were in positions of responsibility under Hussein are now in senior positions within the fighting force of so-called Islamic State, Mr Hammond told the House of Commons Foreign Affairs Committee.
Maybe it was too great an ambition to try to simply dismantle a quite sophisticated country with a long-established civilisation, traditions and cultures of its own and recreate a sort of mid-Atlantic construct of what governance should look like, often going against the grain of local culture and local tradition.
As a result of the aftermath of Iraq, the reconstructing of Syria following its current civil war needed to take place with "an appropriate degree of humility", the MP for Runnymede and Weybridge said.
I think nobody really thinks that in one bound we should turn Syria into a European-style democracy overnight. That's not a realistic or perhaps even a desirable outcome.
Mr Hammond also resisted pressure to declare that military action in Iraq had been a mistake, instead saying that lessons could be learned.
Foreign Secretary Philip Hammond said he was "shocked by the attack in Istanbul".
He added: "Thoughts are with those affected. We stand ready to help."
Claims the UK is considering allowing more than 1m Turkish citizens visa-free travel to the UK are "completely untrue" say senior ministers.Read the full story ›