British finance minister Javid quits in reshuffle

News Image

MG News | February 13, 2020 at 05:44 PM GMT+05:00

0:00

February 13, 2020: Britain's finance minister, Sajid Javid, resigned on Thursday, just weeks after Brexit and a month before he was due to deliver the government's annual budget.

Javid's spokesman confirmed he would be leaving just as Prime Minister Boris Johnson carried out the first reshuffle of his cabinet since winning a parliamentary majority in December's election.

The domestic Press Association news agency quoted an unnamed source close to Javid as saying Johnson wanted him to sack his team of aides but he refused.

"He has turned down the job of Chancellor of the Exchequer," the source said.

"The prime minister said he had to fire all his special advisers and replace them with Number 10 special advisers to make it one team.

"The chancellor said no self-respecting minister would accept those terms." Javid's resignation came after Johnson replaced Northern Ireland minister Julian Smith, in a surprise move just weeks after he brokered the restoration of power-sharing government in Belfast.

It follows weeks of rumours about tensions between the Treasury and the premier's closest adviser, Dominic Cummings, who has promised a shake-up of government operations.

Javid, 50, is a former high-flying banker who moved into politics, serving as interior minister before replacing Philip Hammond as chancellor of the exchequer in July last year.

AFP/APP

Related News

Name Price/Vol %Chg/NChg
KSE100 156,177.82
367.85M
-0.00%
-3.12
ALLSHR 95,630.38
1,498.37M
-0.06%
-60.44
KSE30 47,678.47
206.79M
-0.08%
-35.92
KMI30 229,682.22
174.86M
-0.02%
-39.87
KMIALLSHR 64,366.76
638.47M
-0.08%
-53.31
BKTi 41,922.80
89.51M
-0.11%
-46.72
OGTi 31,735.79
16.87M
-0.80%
-255.97
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,330.00 117,685.00
114,850.00
-1760.00
-1.50%
BRENT CRUDE 67.69 68.59
67.62
-0.78
-1.14%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.50 93.50
93.50
0.15
0.16%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 63.76 64.67
63.69
-0.76
-1.18%
SUGAR #11 WORLD 16.23 16.59
16.23
-0.33
-1.99%

Chart of the Day


Latest News
September 18, 2025 at 12:19 AM GMT+05:00

Pakistan, Saudi Arabia sign Strategic Mutual Defense Agreement


September 17, 2025 at 11:55 PM GMT+05:00

Fed delivers 25 basis-point rate cut


September 17, 2025 at 05:37 PM GMT+05:00

Auction Result: Govt raises Rs201bn through T-bills


September 17, 2025 at 04:59 PM GMT+05:00

Hala Enterprises to increase weaving capacity by 75%


September 17, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Flatlined but Holding On



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg