Tue, 21-Oct-2025

After Silicon Valley Bank collapse UK to help tech firms

Silicon Valley Bank

The government is developing a scheme to ensure UK tech companies affected by Silicon Valley Bank’s bankruptcy. The collapse of Silicon Valley Bank UK has had a 30% to 40% impact on UK start-ups. Leading to a bank run in the US and investor concerns about the overall health of the banking industry. The government … Read more

Chancellor Jeremy Hunt commits to cut costs to boost workforce

Jeremy Hunt

Jeremy Hunt made a commitment to lower childcare costs. As part of a larger initiative to assist individuals in finding employment. Meanwhile, Mr. Hunt has rejected requests from the Tories. In Wednesday’s Budget, the chancellor Jeremy Hunt made a commitment to lower childcare costs as part of a larger initiative to assist individuals in finding … Read more

UK Finance Minister Jeremy Hunt says “necessary to retain this disciplined approach to reduce inflation”

Jeremy Hunt inflation

Finance Minister Jeremy Hunt said it will be vital to retain the strict approach of his Nov budget. The new budget plan included a number of tax increases and reduced government spending. On March 15, he must produce a budget. According to Prime Minister Rishi Sunak’s office, following a Cabinet meeting on Thursday, British Finance … Read more

Taxes will increase for everyone, says Jeremy Hunt

Taxes will increase for everyone, says Jeremy Hunt

Jeremy Hunt says everyone will have to pay more tax. Shadow chancellor accuses Conservatives of making a ‘total mess’ of the economy. Chancellor expected to unveil spending cuts and tax revenue raising measures. According to plans expected to be revealed on Thursday, everyone would have to pay more tax, according to Chancellor Jeremy Hunt. Speaking … Read more

New UK Finance Minister Jeremy Hunt named as Liz Truss prepares to take office U-turn

Jeremy Hunt
  • Jeremy Hunt, a former Cabinet member, was named by Liz Truss to the position.
  • He succeeds Kwasi Kwarteng, whose “mini-budget” that lowered taxes was announced just three weeks ago.
  • The move could see her replaced by Rishi Sunak and Penny Mordaunt, her main opponents in the leadership race.

On Thursday, the pound increased against the dollar by as much as 1.7%, while bond markets stabilised on speculation that Truss might change the economic growth strategy.

As the fourth Treasury chief in the United Kingdom this year, Truss selected former Cabinet minister Jeremy Hunt to the position.
Jeremy Hunt, a former Cabinet member, was named by Truss to the position, making him the fourth Treasury chief in the UK this year.

Liz Truss, the embattled British prime minister, installed a new Treasury chief ahead of a hurriedly scheduled news conference on Friday as she tried to maintain her position and calm the markets after the presentation of a divisive economic plan.

As the fourth Treasury chief in the United Kingdom this year, Truss selected former Cabinet minister Jeremy Hunt to the position. He succeeds Kwasi Kwarteng, whose “mini budget” that lowered taxes was announced just three weeks ago and caused the pound to drop to historic lows versus the dollar.

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Rishi Sunak to stand for the post of UK Prime minister

Rishi Sunak

Rishi Sunak is a former member of the British Cabinet. He declared on July 8 that he is “standing to be the next Prime Minister”. Sunak made the announcement after Boris Johnson announced resignation. Rishi Sunak, a former member of the British Cabinet, declared on July 8 that he is “standing to be the next … Read more

Who could take over as UK prime minister?

UK prime minister
  • Rishi Sunak, Liz Truss and Jeremy Hunt are among the bookies’ frontrunners for the top job.
  • Zahawi Zahawi is a former refugee from Iraq who co-founded the prominent polling company YouGov.
  • His private wealth has drawn attention, including when he claimed parliamentary expenses for heating his horse stables.

 

Boris Johnson’s days as Prime Minister of the UK appear to be numbered, following the resignations of two high-profile members of his senior ministerial team.

However, while several potential successors have been proposed, there is no clear favourite.

 

Rishi Sunak 

The UK’s first Hindu chancellor of the exchequer, who quit on Tuesday, was until recently the bookmakers’ favourite.

But his prospects were dented by questions over his private wealth and family’s tax arrangements.

His resignation has seen him return as one of the bookies’ frontrunners for the top job.

Sunak, 42, has a high profile on social media, and won plaudits for shoring up the economy during the pandemic.

But his refusal initially to authorise more support over a surging cost-of-living crisis has hurt his popularity.

 

Jeremy Hunt

Former foreign and health secretary Jeremy Hunt, 55, lost to Johnson in the 2019 leadership contest, when he branded himself as the “serious” alternative.

Hunt sent a thinly veiled campaign message for a new leadership bid last month, arguing that under Johnson “we are no longer trusted by the electorate” and “we are set to lose the next general election”.

But the fluent Japanese speaker lacks Johnson’s charisma. His pre-pandemic record as health secretary was recently savaged by a Johnson ally.

 

Liz Truss 

Foreign Secretary Liz Truss, 46, is popular among Conservative party members, liked for her outspokenness and willingness to go on the political attack.

But that has also stoked questions about her judgement, for instance when in February she encouraged Britons to fight in Ukraine. Critics say her leadership posturing is too overt.

When she headed the Department for International Trade, some MPs dubbed it the “Department for Instagramming Truss” because of her prolific output on the social media site.

Sajid Javid

Javid, who also quit as health secretary on Tuesday, had previously resigned as finance minister in 2020.

The 52 year old is the son of a Pakistani immigrant bus driver who went on to become a high-flying banker.

Like Sunak, he also faces questions about his personal wealth and tax affairs.

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Ben Wallace 

The defence secretary, 52, has narrowly topped some recent polls of Tory grassroots’ preferred next leader due to his role in the Ukraine crisis.

The former army officer and Johnson ally has downplayed wanting to lead the party but is seen as a straight-talking and competent.

 

 Nadhim Zahawi 

Newly appointed as finance minister, Zahawi, 55, was praised for overseeing Britain’s pandemic vaccines rollout.

Before that he was education secretary.

Zahawi is a former refugee from Iraq who came to Britain as a child speaking no English. Before entering politics, he co-founded the prominent polling company YouGov.

But his private wealth has also drawn adverse attention, including when he claimed parliamentary expenses for heating his horse stables.

 

Tom Tugendhat 

The former army officer, 49, is a prominent backbencher who chairs parliament’s influential Foreign Affairs Committee.

Tugendhat has indicated he will stand in any leadership contest but there is no love lost between him and Johnson loyalists.

A hawk on China, he has been critical of the government’s handling of the troop withdrawal from Afghanistan.

 

Penny Mordaunt 

Mordaunt, 49, is the first woman to have been UK defence secretary and is currently a junior trade minister.

The Royal navy reservist is seen as likely to run but considered a long shot.

A strong Brexit supporter and key figure in the 2016 “Leave” campaign, she has been tipped as a potential unity candidate who could draw support from the Conservative party’s warring factions.

 

Dominic Raab 

Deputy prime minister and justice secretary Dominic Raab, 48, led the country when Johnson was in intensive care in hospital with Covid-19 in 2020.

The former lawyer and karate black belt is regarded as a trustworthy ally.

However, his promotion from foreign secretary to justice was seen as a demotion after he initially failed to cut short a holiday as the Taliban took control of Kabul, Afghanistan’s capital.

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