Sajid Javid quits as chancellor

Sajid Javid quits as chancellor

Sajid Javid quits as chancellor

In a dramatic move which follows rumours of tensions between the ex-chancellor and Boris Johnson's closest aide Dominic Cummings, Mr Javid said that "no self-respecting minister" could accept the condition being imposed.

Rishi Sunak - who has served as chief secretary to the Treasury since the summer of 2019 - is replacing Javid in the top finance role.

Johnson's spokesman said a new economic team of special political aides had been formed to jointly advise both the prime minister and the chancellor.

Labour MPs were quick to blame the Prime Minister's chief adviser Dominic Cummings as the driving force behind the shock resignation of Sajid Javid as chancellor weeks before the Budget.

Indian-origin politician Rishi Sunak was appointed as the UK's new finance minister on Thursday by Prime Minister Boris Johnson in a Cabinet reshuffle.

However, as the details surface, it looks like Johnson wants to push through with his agenda of boosting infrastructure spending and investments (maybe even some tax cuts?) - which are all certainly positive factors for the pound.

Britain and the European Union are aiming to have a deal covering trade, security and other areas in place by the time a post-Brexit transition period ends on December 31.

Johnson began his cabinet reshuffle by sacking his ministers for Northern Ireland, business, housing and the environment, as well as his attorney general.

She held an global development secretary portfolio in the former Prime Minister Theresa May government but she was forced to resign for a highly ill-advised freelance trip to Israel.

Julian Smith had helped end the political vacuum in Northern Ireland by persuading the two main parties to return to a power-sharing government last month.

Tánaiste Simon Coveney has thanked Mr Smith, saying: "Without your leadership, I don't believe Northern Ireland would have a Government today".

The British province had no government since Sinn Fein and the Democratic Unionist Party (DUP) fell out in January 2017 over a renewable energy scandal.

Brandon Lewis, a former security minister, was named to replace him.

Alok Sharma was promoted from global development to become the new business secretary and he will also be minister for the Cop26 United Nations climate summit.

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