UK Treasury chief quits as Johnson shakes up cabinet

UK Treasury chief Sajid Javid unexpectedly resigns and will be replaced by Rishi Sunak, his former deputy

Javid had been due to deliver his annual budget in less than a month. His resignation shakes the government as it faces the challenge of negotiating a new relationship with the 27-nation European Union by the end of this year.

Paul Dales, chief UK economist at Capital Economic said Javid had appeared reluctant to increase public borrowing to fund higher spending. Now his Conservative administration faces the even bigger challenge of negotiating a new trading relationship with the EU while also seeking trade deals with the United States and other countries.

Johnson had intended to keep the most senior ministers in their jobs. His office said Foreign Secretary Dominic Raab, Home Secretary Priti Patel, Justice Secretary Robert Buckland and Cabinet Office Minister Michael Gove were all staying in post.

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