Sunak Reappoints Hunt as Chancellor, Raab Is Deputy: UK Update
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(Bloomberg) —
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Rishi Sunak is overhauling the UK cabinet after taking power on Tuesday, becoming the first person of color to lead the British government and its youngest prime minister in more than two centuries.
By mid-afternoon, at least 10 politicians had left the Cabinet, including Business Secretary Jacob Rees-Mogg and Justice Secretary Brandon Lewis who both quit shortly after Sunak took office. Chief Whip Wendy Morton, Work and Pensions Secretary Chloe Smith and Secretary of State for Wales Robert Buckland are among other departures from the premier’s top team.
Sunak formally became prime minister at a meeting with King Charles III on Tuesday morning, before delivering his first speech as premier outside 10 Downing Street in which he vowed to “fix” the mistakes made by his predecessor, Liz Truss, in her brief administration.
“Right now our country is facing a profound economic crisis” Sunak said. “This will mean difficult decisions to come.”
© Photographer: Leon Neal/Getty Images Europe New UK Prime Minister Rishi Sunak Takes Office
After carrying out sackings in the House of Commons, Sunak is now back in Downing Street to appoint his top team.
Britain’s third premier in two months is likely to spend the rest of the day appointing and re-appointing members of his Cabinet. He’s expected to keep Jeremy Hunt as Chancellor of the Exchequer ahead of the government’s planned fiscal statement on Oct. 31. His challenge when appointing his top team is striking a balance between rewarding loyalists who backed his two leadership campaigns this year while ensuring party unity by including figures from across warring factions.
Sunak Expected to Keep Hunt as He Readies New UK Cabinet
Here are today’s latest developments:
https://t.co/lIHWqzpTHN pic.twitter.com/iS2SIeBPku
— Bloomberg UK (@BloombergUK) October 25, 2022 Most Britons Think Sunak Is Out of Touch (2.50 p.m.)
A substantial majority of Britons — 68% — think Sunak will do better than his predecessor, Liz Truss, according to a YouGov poll of 1,659 adults. But the picture is less rosy on just how good a prime minister they expect him to be: Just 25% expect him to be great or good, while 29% think he will do a poor job.
The public overwhelmingly want Sunak to prioritize the cost-of-living crisis, though two thirds of people believe he’s out of touch with ordinary people, YouGov found.
Sunak Returns to Downing Street to Start Cabinet Appointments (2:45 p.m.)
Sunak has completed the sackings made from his parliamentary office and is now back in Downing Street, where appointments to his first Cabinet will be made shortly, a spokeswoman said.
The latest to leave their posts are Leveling Up Secretary Simon Clarke and Education Secretary Kit Malthouse. When Malthouse’s replacement is appointed, the UK will have had five different education secretaries since July. Alok Sharma will remain in his United Nations climate talks role as COP26 President, but will no longer attend cabinet.
Buckland, Berry, Jayawardena Join Cabinet Exodus (2:18 p.m.)
Also leaving their posts are Party Chairman Jake Berry, Environment Secretary Ranil Jayawardena and Secretary of State for Wales Robert Buckland. All three men posted their departures on Twitter.
Chloe Smith Departs Cabinet (2 p.m.)
Chloe Smith confirms on Twitter that she’s left her role as work and pensions secretary.
Morton Departs Her Role as Chief Whip (1:40 p.m.)
Wendy Morton also confirms her departure from the cabinet on Twitter. As chief whip — in charge of party discipline — she was at the center of the dramatic fracking vote last week that precipitated Truss’s downfall. Morton had appeared to resign at the time — before Truss’s office said she remained in post.
Rees-Mogg, Lewis Quit Cabinet (1:05 p.m.)
Business Secretary Jacob Rees-Mogg and Justice Secretary Brandon Lewis both quit their cabinet roles on Tuesday as Sunak began an overhaul of his top ministerial team.
Lewis posted his resignation letter on Twitter, while Rees-Mogg’s resignation was confirmed by a person familiar with the matter.
Rees-Mogg was a staunch supporter of both Liz Truss and Boris Johnson and has previously said he wouldn’t serve in Sunak’s Cabinet, criticizing the new premier’s leadership campaign when Sunak stood unsuccessfully against Truss over the summer. He quit his post after he finished taking questions on his department’s work in the House of Commons on Tuesday morning, the person said.
Boris Johnson Says Sunak Deserves Support (12:10 p.m.)
It took a while, but nearly a day after Sunak emerged victorious in the race to succeed Truss, her predecessor, Boris Johnson, has congratulated the new premier, saying he deserves the support of the Conservative Party.
Johnson paved the way for Sunak’s premiership when he dropped out of the leadership race on Sunday, eclipsing any chance of what would have been an extraordinary comeback. There’s a bit of rancor between the two men, with many Johnson supporters blaming Sunak for the former premier’s ouster back in July: It was Sunak’s resignation as Chancellor that sparked the mass exodus from Johnson’s government that brought him down two days later.
Sunak Gives First Speech, Vows to Fix Errors (12 p.m.)
Sunak gave his first speech as prime minister, warning of “difficult decisions to come” as he bids to “fix” the errors of Truss’s outgoing administration.
He also said he would restore trust and integrity in government, a subtle jab at Boris Johnson, who resigned as prime minister in disgrace earlier this year.
“I understand too that I have work to do to restore trust after all that has happened,” Sunak said. “All I can say is that I am not daunted.”
Truss Gives Final Speech as Prime Minister (10:17 a.m.)
Liz Truss made her final speech as prime minister outside 10 Downing Street, before heading to see the King to resign. She stuck to her guns in saying the country needs lower taxes and a strategy to take advantage of its Brexit freedoms, despite her plans spectacularly backfiring during her short tenure.
© Bloomberg Rishi Sunak Becomes New UK Prime Minister
There was also no apology for the economic mistakes that roiled the markets and pushed up borrowing costs for millions of people.
“Our country continues to battle through a storm,” she said, wishing her successor “every success” in the job and pledging to stay on as an MP on the back benches. “I know that brighter days lie ahead.”
Sunak Supporter Says He Wants Oct. 31 Fiscal Statement (7:12 a.m.)
Victoria Atkins, a former justice minister and supporter of Rishi Sunak’s leadership campaign, said the incoming premier “very much wants a statement on Oct. 31,” referring to the government’s current schedule for announcing its medium-term fiscal plans.
“But decisions need to be made on that,” Atkins said on Sky News. She said Sunak and Hunt will have detailed discussions in the coming days.
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