Boris Johnson considers tearing up Sajid Javid’s fiscal rules February 16, 2020 Boris Johnson is considering scrapping the fiscal rules written by the Treasury just months ago in a bid to increase spending in next month’s budget. Ex-chancellor Sajid Javid wrote the rules into the Tories’ 2019 election manifesto in an attempt to exercise fiscal restraint amidst a swathe of spending pledges. The primary rules were promises [...]
March budget may be delayed, says transport secretary Grant Shapps February 16, 2020 The government is likely to delay next month’s budget in the wake of Sajid Javid’s resignation, according to the transport secretary. Richmond (Yorkshire) MP Rishi Sunak was promoted to chancellor in Thursday’s cabinet reshuffle, after Javid refused to sack all of his special advisers as demanded by Boris Johnson. Sunak will now handle the country’s [...]
When is the UK Budget 2020? February 14, 2020 The UK Budget 2020 is due next month but after the shock resignation of Sajid Javid this week the government may be forced to delay the date. The official date for the Budget 2020 is 11 March but the government so far has not confirmed it will go ahead after the reshuffle which saw Rishi [...]
GBP/EUR Update – Cabinet Reshuffle February 14, 2020 Reports over the weekend of tensions rising between the UK and the EU over trade negotiations meant that the pound got off to a shaky start this week. Despite this, sterling did make some gains later in the day, reflecting investors’ optimism that a suitable deal will be reached, despite reports that the EU may [...]
Now Mark Carney sees a silver lining to Brexit February 14, 2020 Mark Carney has said there may be a silver lining to Brexit for the UK economy. Speaking to Reuters, the outgoing Bank of England governor said there are some potential upsides for the economy from Brexit, in marked contrast to some of his previous comments on the decision to leave the EU. “In an environment [...]
New-look cabinet to meet later after Sajid Javid’s shock exit February 14, 2020 Boris Johnson’s newly reshuffled cabinet will meet for the first time later today after the shock departure of chancellor Sajid Javid. His deputy, Rishi Sunak, is the new Treasury boss after Javid refused to sack his special advisers in order to keep his job. He said “no self-respecting minister” could agree to Prime Minister Boris [...]
Sajid Javid opts to go down with the ship February 14, 2020 Just under three months ago, Boris Johnson promised a room full of business leaders that Sajid Javid was guaranteed to remain in office as chancellor. He praised Javid and gave a “categorical” commitment to the CBI conference that he will remain in post. Yesterday, Javid was told that if he wanted to keep his job [...]
Javid launches parting shot over Treasury ‘impartiality’ February 13, 2020 Sajid Javid launched a parting shot at the Prime Minister yesterday after sensationally quitting as Chancellor, warning that Johnson and his aides were risking the “credibility” of the Treasury. Tensions between Number 10 and Number 11 dramatically came to a head during yesterday’s reshuffle, with Javid resigning in protest over plans to fire his advisers [...]
Cabinet reshuffle live: Chancellor resigns over turf war with No 10, as PM shakes up top team February 13, 2020 This is a live blog, please hit refresh to update 6pm – Live blog wrap Well, that’s your lot for today – at least, in terms of this live blog. My colleagues will be picking up on the rest of the appointments this evening and tomorrow. It was quite a day – certainly more of [...]
Javid: No self-respecting minister could accept PM’s conditions February 13, 2020 Sajid Javid has said he quit rather than accept conditions that “no self-respecting minister could”, following his surprise resignation as chancellor today. Simmering tensions between Downing Street and Treasury erupted into all-out warfare this morning, after he resigned in protest over plans to merge the two teams’ advisers. Despite run-ins with Boris Johnson’s chief adviser [...]