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Sajid Javid has resigned from his role as chancellor of the exchequer, with Rishi Sunak replacing him amid a major cabinet reshuffle by prime minister Boris Johnson.
Mr Javid’s shock resignation as chancellor comes less than a month before he was expected to announce the first Budget under the new Johnson government.
His replacement Rishi Sunak is promoted from his role as chief secretary to the Treasury which he has carried out since July.
Mr Javid was made chancellor days after Mr Johnson was elected as leader of the Conservative Party.
Before taking up the post of chancellor, Mr Javid became the first secretary of the then Department for Communities and Local Government in July 2016. He kept his role when the department became the Ministry of Housing, Communities and Local Government (MHCLG) in January 2018, before moving to become home secretary in July of that year.
During his time at MHCLG, he announced that the government would be publishing a Social Housing Green Paper and his department published the Housing White Paper which marked a move away from David Cameron’s focus on homeownership.
He also made an unsuccessful bid to the Treasury for major investment in new build rental housing as part of a major infrastructure investment plan.
Mr Sunak, the new chancellor, spent 18 months at MHCLG before being made Treasury chief secretary and was succeeded by Luke Hall.
The changes come as it was also announced that Esther McVey has been sacked as housing minister as part of the reshuffle.
Ms McVey confirmed her exit in a tweet this morning, where she said that that she was “very sorry to be relieved of her duties”.
More to follow…