UK finance minister Sajid Javid is said to have resigned

Author: Justin Low | Category: News

The cabinet reshuffle is getting a bit ugly

This is being reported by The Sun's political editor, Tom Newton Dunn, and also BBC political editor, Laura Kuenssberg.

Rumour has it that he was offered to stay on the job but he had to fire all his advisers, which it looks like he is reluctant to do. Fair play I guess.

The pound is easing a little on the news here but I don't really see this as being overly pessimistic news unless Johnson did not intend for Javid to go in the first place.

Update: Rishi Sunak is being reported to replace Javid and there will be a team of advisers from No. 10 and No. 11 to deliver on the government's priorities. It looks like Johnson will get things done the way he wants to, regardless of personnel.

Ultimately, I don't see that being a bad thing for the pound if Johnson manages to push through with proposals to boost infrastructure spending or investments.

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