Era of easy money is over warns transport secretary Hammond

The era of easy public money is over, Philip Hammond, the newly-appointed secretary of state for transport, warned today (Thursday).

Hammond held a press briefing at Great Minster House this afternoon after attending the first cabinet meeting of the new Liberal Democrat-Conservative government.

Hammond was handed the transport brief after Lib Dem MP David Laws was named as chief secretary to the Treasury, the role which he used to shadow before the election.

This role required Hammond to...

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