No-deal Brexit would quash new PM's spending plans – Hammond

Chancellor to warn leadership candidates they can leave with no deal or spend, but not both

The incoming prime minister will be forced to abandon any spending plans if the UK accelerates towards a no-deal Brexit, Philip Hammond is to say in a warning apparently directed at Boris Johnson.

The chancellor, who is likely to be removed from the cabinet under a Johnson premiership, will tell business leaders in his Mansion House speech on Thursday that any leadership candidate must have a plan B if renegotiations with the EU fail, or their "job will be on the line".