British Conservative Party leader of Pakistani origin, Sajid Javid, has resigned as chancellor of the exchequer as Prime Minister (PM) Boris Johnson carries out a post-Brexit cabinet reshuffle.
According to BBC, Javid rejected an order to fire his team of aides, saying “no self-respecting minister” could accept such a condition.
He had been due to deliver his first budget in four weeks’ time.
The former home secretary was appointed chancellor by Johnson when he became PM in July.
His resignation follows rumours of tensions between Javid and the British premier’s senior adviser Dominic Cummings. “He has turned down the job of chancellor of the Exchequer,” the report quoted a source close to Javid as saying.
“The PM said he had to fire all his special advisers and replace them with Number 10 [10 Downing Street, the headquarters of the UK government] special advisers to make it one team. The chancellor said no self-respecting minister would accept those terms.”
Javid has been replaced by Rishi Sunak.
Sunka may enact a looser monetary policy, in line with Johnson’s promises to spend on infrastructure. That would allow the Bank of England to step back with monetary easing, thus supporting the pound.