It has been confirmed that former foreign secretary Jeremy Hunt has taken over from Kwasi Kwarteng as Chancellor.
A more centrist figure - who also backed Rishi Sunak in the leadership race - Hunt is less likely to share Kwarteng and Liz Truss’ ideological free market commitment to tax cuts.
Edward Argar replaces Chris Philp as Chief Secretary to the Treasury, while Philp moves into Argar’s previous role as Paymaster General and Minister for the Cabinet Office.
