Tory toff Jacob Rees-Mogg has quit government after conceding he would not get a job in Rishi Sunak's Cabinet, despite recanting his claim the new Prime Minister was a "socialist".
The old ally of Boris Johnson and Liz Truss was the first to acknowledge on Tuesday that he was out as the newly appointed Conservative leader began a Government shake-up.
A source close to the outgoing Business Secretary told the PA news agency: "He knows he was very close to the previous two regimes and it didn't seem likely he was going to be appointed in the new Cabinet. He's happy to support the Prime Minister from the backbenches."
