Sajid Javid resigns as Chancellor in reshuffle twist
Javid quits just weeks ahead of the Budget on 11 March
13th February 2020 12:34
by Emma Lunn from interactive investor
Javid quits just weeks ahead of the Budget on 11 March
Chancellor Sajid Javid has stepped down as Chancellor of the Exchequer as Prime Minister Boris Johnson reshuffles his cabinet.
Javid resigned, despite being given the opportunity to stay in his post, because Johnson demanded he sack his team of aides.
Rishi Sunak will replace Javid as Chancellor. Sunak was first elected to parliament in 2015, and previously served as Chief Secretary to the Treasury, the second in command to the finance minister, overseeing public spending.
A spokesman for Javid told the Press Association: “Javid has turned down the job of Chancellor of the Exchequer. The Prime Minister said he had to fire all his special advisers and replace them with Number 10 special advisers to make it one team. The Chancellor said no self-respecting minister would accept those terms.”
The announcement was met with shock as Javid is due to deliver his first Budget on 11 March. He was appointed Chancellor on 24 July 2019 after Johnson became Prime Minister. Prior to that, Javid was home secretary from 30 April 2018 to 24 July 2019.
Other minister out of a job due to the reshuffle include Norther Ireland secretary Julian Smith, business secretary Andrea Leadsom, attorney general Geoffrey Cox, housing minister Esther McVey and environment secretary Theresa Villiers.
McVey's departure means the UK will see its 10th housing minister since 2010.
This article was originally published in our sister magazine Moneywise, which ceased publication in August 2020.
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