The rise of the dry Conservative

New Chancellor of the Exchequer Philip Hammond will need good judgment to keep Britain’s head above water

17th July, 2016
Theresa May leaves Bute House following a meeting with Nicola Sturgeon on Friday Picture: Getty

Since the days of Margaret Thatcher, the Conservative party has been split between the moderate, socially liberal “wets” and their more fiscally and morally austere colleagues, the “dries”. There has rarely been any doubt where Britain’s new Chancellor of the Exchequer fits in the great divide in British Toryism.

A fiscal hawk with a reputation as a stickler for detail, Philip Hammond arrives at Number 11 Downing Street as...

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