Jeremy Hunt

Former British foreign minister Jeremy Hunt is the country's new finance minister, the Times reported on Friday, after Kwasi Kwarteng was sacked from the ...

"Jeremy Hunt is the new chancellor," Times Political Editor Steven Swinford said on Twitter. LONDON, Oct 14 (Reuters) - Former British foreign minister Jeremy Hunt is the country's new finance minister, the Times reported on Friday, after Kwasi Kwarteng was sacked from the role by Prime Minister Liz Truss. [The Thomson Reuters Trust Principles.](https://www.thomsonreuters.com/en/about-us/trust-principles.html)

BRITAIN'S Finance Minister Kwasi Kwarteng has been sacked after less than six weeks in the job, the BBC reported on Friday (Oct 14), as the government's ...

Former foreign minister Jeremy Hunt has been appointed Britain's finance minister, Prime Minister Liz Truss's office said on Friday, following Kwasi.

[UK PM Truss fires finance minister Kwarteng: Report](https://english.alarabiya.net/News/world/2022/10/14/UK-finance-minister-Kwarteng-to-be-sacked-Reports) [UK PM Truss determined to deliver growth plans: Minister](https://english.alarabiya.net/News/world/2022/10/14/UK-PM-Truss-determined-to-deliver-growth-plans-Minister) [UK’s Kwarteng sticks to tax plan saying he’s ‘not going anywhere’](https://english.alarabiya.net/business/economy/2022/10/13/UK-s-Kwarteng-sticks-to-tax-plan-saying-he-s-not-going-anywhere-) Truss, in power for only 37 days, then told a news conference she would now allow a key business levy to rise from next year, raising £18 billion ($20 billion), as she accepted she had gone “further and faster” than markets had been expecting. [For the latest headlines, follow our Google News channel online or via the app.](https://news.google.com/publications/CAAqBwgKMOnQlwswi_quAw?oc=3&ceid=US:en&hl=en-US&gl=US)

Kwarteng is now on record for being among the chancellors serving the shortest time.

You have put the national interest... Prime Minister Liz Truss named Jeremy Hunt as chancellor after Kwasi Kwarteng said he was asked to resign from the position. Jeremy Hunt named chancellor after Kwasi Kwarteng confirms sacking as Liz Truss U-turns on corporation tax

Hours after sacking Kwasi Kwarteng, British Prime Minister Elizabeth Mary Truss said that she was 'incredibly sorry' to lose Kwarteng and had asked Jeremy ...

His appointment is meant to appease MPs already plotting to unseat Prime Minister Liz Truss. Read more at straitstimes.com.

He was elected to Parliament in 2005. They have a son and two daughters. They first met via Hotcourses as she was a Warwick University student recruiter. Mr Hunt had a successful career as an entrepreneur. Selling his stake made him a sterling multi-millionaire. However, he was also criticised for his pandemic planning while health chief.

Former British foreign minister Jeremy Hunt has been appointed as the new finance minister by Prime Minister Liz Truss, Times Political Editor Steven.

An initial drop in price is later taken over by buyers, resulting in a sharp move to the upside. Gold is having a difficult time staging a rebound and trading deep in negative territory below $1,650. EUR/USD peaked at 0.9771 following the mixed macroeconomic data releases from the US. Retail Sales remained virtually unchanged in September but the 5-year Consumer Inflation Expectation of the UoM's survey climbed to 2.9% from 2.7%. The author makes no representations as to the accuracy, completeness, or suitability of this information. GBP/USD managed to recover above 1.1200 during the American trading hours as investors digested the latest political headlines from the UK. The author has not received compensation for writing this article, other than from FXStreet. The author will not be held responsible for information that is found at the end of links posted on this page. It also does not guarantee that this information is of a timely nature. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. As of writing, GBP/USD was trading at 1.1200, where it was down 1.1% on a daily basis. This development doesn't seem to be helping the British pound find demand.

The ex-health secretary - who backed Rishi Sunak in the leadership race - takes over at a crucial time.

He said at the time that "every member of his family" has had the disease and that he had "a minor one" himself. Earlier in 2012, he faced calls to resign over his role in the BSkyB takeover bid. When the business was sold in 2017, Hunt netted a reported £14m, making him one of the UK's richest politicians. This was after his predecessor Mr Johnson quit over Theresa May's Brexit strategy. In the leadership race this year, he put his weight behind former chancellor Rishi Sunak over Liz Truss. But prior to his career in parliament, Mr Hunt had a career as an English teacher in Japan and as an entrepreneur - co-founding the Hotcourses education publisher.

LONDON : Jeremy Hunt was named Britain's new finance minister on Friday, the latest senior ministerial role for the self-proclaimed entrepreneur regarded by ...

During a trip to China in July in 2018, he mistakenly described his wife Lucia, who hails from China, as being Japanese. Ironically, though, while Truss has said she will press ahead with a cut to income tax, Hunt said at the time that could wait. "We need to start up Britain now," he told the Sunday Telegraph when he announced his candidacy. Rash talk of ditching the PM, or calls for a general election, will not calm the financial markets." "He is trusted and respected across parliament. Advertisement

Newly appointed UK finance minister Jeremy Hunt is a mild-mannered political survivor who will require all of his considerable experience to calm an economy ...

He served as the Conservatives' culture, media and sport spokesman in opposition then took over the brief as secretary of state when his party took office in 2010. Hunt went on to Oxford University, where he first became politically active as president of the Conservative Association, and was a contemporary of Johnson and Cameron. Hunt was promoted to health secretary, one of the hardest jobs in cabinet at the time, as the government implemented long-lasting austerity measures in the wake of the 2008 economic crisis. A supporter of remaining in the EU, Hunt was relegated to the backbenches when pro-Brexit Johnson took charge, although he was chair of the influential Health and Social Care Select Committee, which sought to hold the government to account during the pandemic. As the culture, media and sport minister, he was under intense pressure to resign in 2012 over his contacts with Rupert Murdoch during a phone-hacking scandal involving the mogul's media empire. In government, he oversaw the London 2012 Olympics, was Britain's longest-serving health secretary and proved a steady pair of hands as the UK's top diplomat.

The newly-appointed Chancellor of the Exchequer Jeremy Hunt enters 10 Downing Street. Britain's Prime Minister Liz Truss had earlier that day sacked his ...

A former foreign minister, Hunt has twice been unsuccessful in running for the governing Conservative Party's leadership, once losing to Boris Johnson and ...

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LONDON, Oct 14 (Reuters) - Jeremy Hunt was named Britain's new finance minister on Friday, the latest senior ministerial role for the self-proclaimed ...

During a trip to China in July in 2018, he mistakenly described his wife Lucia, who hails from China, as being Japanese. Ironically, though, while Truss has said she will press ahead with a cut to income tax, Hunt said at the time that could wait. "We need to start up Britain now," he told the Sunday Telegraph when he announced his candidacy. Rash talk of ditching the PM, or calls for a general election, will not calm the financial markets." "He is trusted and respected across parliament. "It’s become obvious to me you only get one big shot at this, and I had mine in 2019," he said after he was eliminated from the running, appearing to concede that his ambitions to get to the top of politics had been ended.

Experienced cabinet minister not likely to propose more U-turns but Tory MPs divided over whether he will save PM.

Jeremy Hunt was appointed as the Chancellor of the Exchequer in the UK on Friday after Prime Minister Liz Truss sacked Kwasi Kwarteng, according to reports. Kwasi Kwarteng was on a visit to the US for a meeting with the International Monetary Fund ...

The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). The demand by members of Parliament, especially of the [Labour Party](/topic/labour-party), was that he must come back to the UK during the Prime Minister's Questions (PMQs). [Nadhim Zahawi](/topic/nadhim-zahawi)

LONDON: British Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng on Friday (Oct 14), shortly before she is expected to scrap parts of ...

That had formed a key part of their package after Sunak proposed increasing it to 25 per cent when he was finance minister under Truss's predecessor Boris Johnson. "Problem is the markets have lost trust in the Conservative Party - and who can blame them?" "If you can't get your budget through parliament you can't govern," Chris Bryant, a senior lawmaker from the opposition Labour Party, said on Twitter. Kwarteng is the country's shortest-serving chancellor since 1970, and his successor will be the fourth finance minister in as many months in Britain, where millions are facing a cost of living crisis. Advertisement

LONDON — British Prime Minister Liz Truss has fired her finance minister, Kwasi Kwarteng, as she fights to hang on as prime minister after her budget ...

Liz Truss and the Conservatives crashed the economy, causing mortgages to skyrocket, and has undermined Britain’s standing on the world stage.” She announced that she will reverse her proposal to halt a planned rise in corporation tax and tighten public spending, conceding that parts of her budget went “further and faster than markets were expecting.” The decision to call an audience with the press — generally taken in exceptional circumstances — underlines the precariousness of her position little more than a month after she took office. Your success is this country’s success and I wish you well.” Rachel Reeves MP, Labour’s shadow chancellor, said: “Changing the Chancellor doesn’t undo the damage that’s already been done. In a letter to the prime minister, Kwarteng wrote: “We have been colleagues and friends for many years.

Jeremy Hunt has been confirmed as the new chancellor of the exchequer after Kwasi Kwarteng was sacked by the prime minister this morning October 10 after 38 ...

The decision to bring in a new team is an attempt to quell the fissures in financial markets which have pushed up borrowing costs and pushed the value of the pound to its lowest point against the dollar. Hunt has been the MP for South West Surrey since 2005, and has served as secretary of state for foreign and commonwealth affairs, as well as for culture, Olympics, media and sport. The policies triggered a rush for the door for gilt investors, and the pound sunk to its lowest value against the dollar after £43bn of unfunded tax cuts were unveiled.

Prime minister installs moderate Tory figure in attempt to calm financial markets after ousting ex-Chancellor Kwasi Kwarteng - Anadolu Agency.

[Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. In a bid to unleash Britain's potential, Truss had wanted to tear up economic orthodoxy. Hunt, 55, was a businessman before entering parliament.

Under-pressure UK Prime Minister Liz Truss appointed Jeremy Hunt as her new Chancellor of the Exchequer, replacing Kwasi Kwarteng after just 38 days in ...

Kwasi Kwarteng was sacked due to the controversial tax cut plans which led to turmoil in financial markets.

And some taxes will not be cut as quickly as people want, and some taxes will go up. “Spending will not rise by as much as people would like to all government departments are going to have to find more efficiencies than they were planning to. Hunt told Sky News on Saturday in his first full day in the job.

Kwarteng's replacement is warned of inflation impact, crumbling services and financial 'black hole' that he has two weeks to fill.

However, many economists believe the OBR is unlikely to endorse that view. [NHS](https://www.theguardian.com/society/nhs), schools and all our public services have been slashed to the bone over the last 12 years. Truss has refused to spell out whether benefits will rise in line with inflation next April, as previously promised by Sunak. Details of so-called “supply-side reforms”, expected to include planning changes and deregulation of the childcare sector, are yet to be announced. Truss said: “We will control the size of the state to ensure that taxpayers’ money is always well spent.” “Hospital waiting lists are at record highs, school buildings are crumbling before our eyes and local services are on their knees.”

Jeremy Hunt has told the BBC that his predecessor Kwasi Kwarteng made two mistakes in the mini-budget.

"[Truss] has been prime minister for less than five weeks. [described sacking Mr Kwarteng and scrapping another key economic policy as "difficult"](https://www.bbc.co.uk/news/uk-politics-63261432) and admitted in a short press conference on Friday that "parts of our mini-budget went further and faster" than the markets were expecting. "And it was wrong to fly blind and to announce those plans without reassuring people with the discipline of the Office for Budget Responsibility (OBR) that we actually can afford to pay for them." Addressing mistakes he said were made by the ex-chancellor, Mr Hunt said: "There were two mistakes - it was wrong to cut the top rate of tax for the very highest earners at a time where we're going to have to be asking for sacrifices from everyone to get through a very difficult period. He told BBC Breakfast he was "not going to make any commitments" and reiterated he was just hours into the job. Mr Hunt said he agreed with the prime minister's goal of "solving the growth paradox", but added: "The way we went about it clearly wasn't right and that's why I'm sitting here now."

London: Former foreign minister Jeremy Hunt has been appointed Britain's finance minister, Prime Minister Liz Truss's office said on Friday, following Kwasi ...

Ironically, though, while Truss has said she would press ahead with a cut to income tax, Hunt said at the time that could wait. The move is also being seen as an attempt by Truss to reach out to angry lawmakers in her ruling Conservative Party. Rash talk of ditching the PM, or calls for a general election, will not calm the financial markets."

The situation for the UK prime minister is dire, but is it hopeless? Having Jeremy Hunt in No. 11 Downing Street could still save her.

10 riposted that her chancellor was doing an “excellent job,” had “her full confidence,” etc. Downing Street spokesmen and cabinet ministers had earlier lined up to declare that any move to abandon her unfunded tax cuts was unthinkable and capitulation unimaginable. The markets responded by selling the pound and dumping gilts.

Big, unfunded tax cuts were a central plank of Liz Truss's original plans, but Jeremy Hunt said tax increases were on the cards. IANS Newly appointed UK Chancellor of the Exchequer Jeremy Hunt leaves 10 Downing Street in London, Britain, on Oct ...

On Monday, the British government bond market faces a test when it will function for the first time without the emergency buying support provided by the BoE since Sept. So it's going to be difficult," he said. The Prime Minister has recognised that, that's why I'm here." Hunt is due to announce the government's medium-term budget plans on Oct. In a hurried news conference shortly after dismissing Kwarteng, Truss said the corporation tax rate would increase, abandoning her plan to keep it at current levels, and government spending would rise by less than previously planned. "No chancellor can control the markets.

New chancellor vows to be 'completely honest with country' amid rumours PM has only weeks left in role.

But we are talking about very difficult decisions in budgets where there is already a great deal of pressure.” Hunt, twice a Tory leadership contender and a former foreign secretary, said: “We will have some very difficult decisions ahead. Some taxes will go up … It was a mistake, when we’re going to be asking for difficult decisions across the board on tax and spending, to cut the rate of tax paid by the very wealthiest. “It was a mistake to fly blind and to do these forecasts without giving people the confidence of the Office for [replacing Kwasi Kwarteng](https://www.theguardian.com/politics/2022/oct/14/jeremy-hunt-chancellor-surprising-return) on Friday, the former health secretary signalled he would have a “clean slate” when it came to the budget, and vowed to be “completely honest with the country” amid rumours that Truss has only weeks left as prime minister.

New chancellor says taxes must rise after prime minister Liz Truss failed to reassure markets.

Chancellor of the Exchequer Jeremy Hunt said the UK faces tough choices on tax and spending, as he seeks to calm financial markets with a marked change of ...

The situation for the UK prime minister is dire, but is it hopeless? Having Jeremy Hunt in No. 11 Downing Street could still save her.

Although he is a free-marketeer by conviction, a big plus point for Hunt is that he gets the importance of empathy. Contrast that with Truss’s failure to acknowledge the cost to homeowners of the soaring mortgage bills that followed the mini-budget. Previously, he was editor of the Sunday Times of London and its chief political commentator. The government has a maximum of two years before its allotted time is up, but the prime minister may struggle to survive her MPs’ displeasure until next month. The prime minister is now surrendering the major planks of her libertarian program. Although another leadership putsch would install the fifth Tory prime minister in six years, fear of electoral oblivion is driving the parliamentary party to contemplate desperate measures. Has the prime minister too become a figurehead? The markets had already baked in surrender. Unlike Wilson and Major, who had earlier triumphed at the polls, this prime minister has no electoral mandate for her libertarian prospectus. Harold Wilson, the UK’s most economically literate prime minister since World War II, for instance, wasted enormous political capital defending the value of the pound. On Friday, the prime minister duly performed her screeching U-turn but refused to resign. The situation is dire, but is it hopeless?