Liz Truss appoints ex-minister Jeremy Hunt as Chancellor of the Exchequer

Veteran Tory Jeremy Hunt, former minister among other departments of health and foreign affairs, was appointed head of the economy to replace the fired Kwasi Kwarteng. Downing Street, the office of Prime Minister Liz Truss, confirmed today in a statement the appointment of Hunt (56), who in 2019 and this year unsuccessfully aspired to lead the Conservatives.

Along with Hunt, deputy Edward Argar was appointed the new Secretary of State for the Treasury replacing Chris Philip, who in turn replaces Argar as Chief Treasurer. “The King (Charles III) is pleased to approve the following appointments: Jeremy Hunt as Chancellor of the Exchequer (Minister for the Economy); Edward Argar as Chief Secretary to the Treasury; and Chris Philip as Chief Treasurer and Secretary of State in the Cabinet Office,” the note said.

Hunt currently chairs the influential Health Committee in the (Lower) House of Commons and return to executive for the first time since 2019, when he lost his position as Minister of Foreign Affairs after losing to Boris Johnson in the “Tory” leadership race. In his new bid for the Conservative leadership, the new economy secretary was eliminated in the first round of voting among Tory MPs to replace Boris Johnson after his sacking last July.

He subsequently publicly endorsed Truss’s primary rival and predecessor in office, Rishi Sunak. The Prime Minister will soon hold a press conference at which he will is expected to explain the reasons to entrust Hunt with the task of steering the British economy at a time when it is facing major turbulence, caused in part by the fiscal plan presented by Kwarteng on 23 September. Hunt previously held the portfolios for culture, media and sport (2010-2012), health (2012-2018) and foreign affairs (2018-2019) in the Conservative governments of David Cameron and Theresa May.

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