The decision is latest by May in overhauling policies by ex-prime minister David Cameron
Bank of England has had to acknowledge it was too pessimistic before UK vote to leave the European Union.
May is expected to look for a national strategy instead of adopting Osborne's 'Northern Powerhouse' plan.
Official data reveals the Treasury borrowed £7.8bn, nearly £2.2bn lower than same month a year ago
A decade in the hard-knocks school of local London politics has produced a prime minister and flurry of ministers.
Brendan Cox urges people to 'draw together to drain swamp that extremism breeds in'.
UK economy has three main problems: dominance of finance over industry, low productivity and low pay.
Good Morning Britain host Susanna Reid quizzed the MP about Brexit.
Washington-based lender keeps its US GDP growth forecast unchanged at 2.2% for this year.
Fate of the old chancellor will, in many ways, define the new government.
Chancellor George Osborne is one of the senior officials who said charges against HSBC could rock global markets.
Chancellor travels to New York on 11 July for talks with Wall Street investors.
Federation of Small Businesses says SMEs must be supported amid uncertainty caused by the Brexit vote.
Ben Wallace's criticism came as Johnson lambasted the government for having no clear Brexit plan.
Osborne admits he will miss the government's 2020 budget surplus target as a result of an expected economic downturn.
The deficit was static while first-quarter GDP came in unrevised at 0.4%, according to ONS.
Party says 10,000 people have joined recently – including Leave voters 'horrified' by the Brexit fallout.
Adjusting to life outside the EU will not be as economically rosy as life inside it, says chancellor.
The chancellor ruled himself out of the party leadership as several candidates emerge.
President of the European Parliament Martin Shultz has urged PM Cameron to trigger Article 50.
The CBI has urged the Government to deliver a solid business plan following the EU referendum.
Top Conservative says there is no need to trigger Article 50 until a new prime minister is elected.