Jeremy Hunt has been reappointed as Chancellor by new Prime Minister Rishi Sunak. Mr Sunak has also brought Dominic Raab back to the Cabinet in a reshuffled which aims to help fix 'mistakes' made by Liz Truss.
In his inaugural speech as Tory leader and PM, Mr Sunak braced the nation for “difficult decisions”. He warned that the UK is facing a “profound economic crisis” in his first speech since being appointed by the King and before launching a Cabinet reshuffle.
Boris Johnson loyalists who stayed close to Ms Truss, including Jacob Rees-Mogg, were among the 11 ministers who were out of government. But Downing Street announced that Mr Hunt, brought into the Treasury to fix the economic crisis which began under the last PM, would stay in the role ahead of his Halloween financial statement.
