Advisers were largely unsure of economic impact of Nadhim Zahawi’s appointment to the role of Chancellor of the Exchequer, given the evolving nature of the situation, but many questioned how long he would survive should Boris Johnson be ousted from Number 10.
Zahawi, the former education secretary, takes over from Rishi Sunak after his shock exit from government last night over the PM's handling of the Chris Pincher affair. Pincher is facing allegations of sexual misconduct while working as deputy chief whip. Earlier today, the City minister and economic secretary to the Treasury, John Glen also resigned from PM Boris Johnson's government citing "a complete lack of confidence" in his leadership. The BBC reports Zahawi has previously expressed traditionally "conservative views on the economy - including the need to keep the budget balanced...
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