UK’s Boris Johnson suffers major blow as finance minister and health minister quit

UK’s Boris Johnson suffers major blow as finance minister and health minister quit


Britain’s Chancellor Rishi Sunak (C) listens as Prime Minister Boris Johnson (L) addresses his Cabinet ahead of the weekly Cabinet meeting in Downing Street on June 07, 2022 in London, England.

Leon Neal | Getty Images

LONDON — British Chancellor Rishi Sunak resigned Tuesday, saying the government should be run “properly, competently and seriously.”

Health Secretary Sajid Javid also handed in his resignation in what appears to be a protest against Prime Minister Boris Johnson’s leadership.

The British pound hit a fresh March 2020 low after the announcements. The currency was down 1.5% for the session, hitting 1.1923 against the dollar.

“The public rightly expect government to be conducted properly, competently and seriously,” Sunak wrote in a tweet Tuesday evening.

“I recognise this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning.”

In a letter to the prime minister, Sunak added: “I am sad to be leaving government but I have reluctantly come to the conclusion that we cannot continue like this.”

It comes after a string of scandals that have plagued Johnson’s leadership over the last few months.

The prime minister narrowly survived a vote of confidence — triggered by his own lawmakers — last month. But dissatisfaction with his leadership, both within his own Conservative party and beyond, has continued.

Johnson has repeatedly resisted calls to resign from across the political spectrum, despite sustained public anger over a long and growing list of accusations.

The latest scandal to erupt in Downing Street surrounds Conservative lawmaker Chris Pincher. The former deputy chief whip was suspended last week amid accusations that he drunkenly groped two men at a private members club.

Johnson on Tuesday evening, just minutes before the resignations, apologized for appointing Pincher as deputy chief whip — a senior party role — despite knowing of an investigation into his behavior back in 2019.

Meanwhile in May, a damning report into several high-profile Covid-19 lockdown-breaking parties, dubbed “partygate,” at Johnson’s office and residence was released, adding to calls for Johnson’s resignation.

In a letter to Johnson published Tuesday, Javid said the recent vote of confidence was a “moment for humility, grip and a new direction.”

“I regret to say, however, that it is clear to me that this situation will not change under your leadership – and you have therefore lost my confidence too,” he added.

— CNBC’s Sam Meredith and Holly Ellyatt contributed to this report



Source

The 0 oil playbook: How pro investors are investing around this energy shock
World

The $100 oil playbook: How pro investors are investing around this energy shock

Professional investors are reshuffling portfolios as crude oil surges past $100 a barrel , rotating into sectors tied to commodities while adding hedges against the risk that geopolitical tensions could trigger a broader economic shock. The jump in energy prices tied to the Middle East conflict is prompting money managers to rethink positioning. Many say […]

Read More
Anthropic sues Trump administration over Pentagon blacklist
World

Anthropic sues Trump administration over Pentagon blacklist

U.S. President Donald Trump, Secretary of Defense Pete Hegseth behind, speaks to reporters aboard Air Force One on a flight from Dover, Delaware, to Miami, Florida, U.S., March 7, 2026. Kevin Lamarque | Reuters Anthropic filed a lawsuit against the Trump administration on Monday after the artificial intelligence startup was blacklisted and labeled a threat […]

Read More
The Iran war has put the brakes on the next Bank of England rate cut
World

The Iran war has put the brakes on the next Bank of England rate cut

A road closure sign leans against a wall outside Royal Exchange in the heart of the City of London, on 13th June 2022, in London, England. Richard Baker | In Pictures | Getty Images Before the war in Iran erupted, the Bank of England was widely predicted to be on course to cut interest rates […]

Read More