Published: Fri, February 14, 2020
Markets | By Otis Pena

British finance minister Sajid Javid quits in Cabinet reshuffle

British finance minister Sajid Javid quits in Cabinet reshuffle

UK Prime Minister Boris Johnson has appointed Indian-origin Rishi Sunak as his new finance minister.

One of the most surprising resignations among senior officials was Treasury Chief Sajid Javid, who said he would not listen to orders to fire his team of aides.

Harry Lambert, a special correspondent with the New Statesman wrote an extensive profile of the Prime Minister's closest adviser Dominic Cummings, has told James O'Brien the decision was underscored by efforts by Cummings to reduce the independence of the Treasury.

Newcomers at the cabinet meeting on Friday will include Anne-Marie Trevelyan, who replaces Alok Sharma as global development secretary; Amanda Milling, who is minister without portfolio and chairwoman of the Conservative Party; and Suella Braverman, who takes on the role of attorney general after the prime minister asked Mr Cox to step down.

Labour's shadow chancellor, John McDonnell, said the resignation was "a historical record". Johnson also has ambitious infrastructure plans including a 100 billion-pound ($130 billion) high-speed railway. It's all about delivery, the best way to deliver on the promises we made to this country'. And even with a deal, the United Kingdom faces a huge adjustment when decades of seamless trade and travel with the European Union end at the start of 2021.

Other big-name casualties of the reshuffle include business secretary Andrea Leadsom and attorney general Geoffrey Cox.

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Foreign secretary Dominic Raab, chancellor of the Duchy of Lancaster Michael Gove and justice secretary Robert Buckland were all confirmed in their existing roles. Others were promoted, including Suella Braverman to the position of attorney general and Anne-Marie Trevelyan to the post of worldwide development secretary.

Brandon Lewis was appointed as Northern Ireland secretary.

'The move seems created to allow the Government to push through even bigger increases in public investment and perhaps resuscitate tax cuts that previously looked dead in the water'.

Julian Smith was also sacked as Northern Ireland Secretary - weeks after he brokered the deal that restored the power-sharing administration in Stormont. The summit, known as the 26th Conference of the Parties, or COP26, is scheduled to be held in Glasgow in November.

Planning for that has got off to a rocky start, with Johnson last week firing Claire O'Neill, a former British government minister appointed past year to head up the event.

Prior to that he was the parliamentary under-secretary for housing, communities and local government under Theresa May.

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