Osborne gets Chancellor while Cable controls business and banks

Both former shadow chancellors George Osborne and Vince Cable have been given positions in the new coalition cabinet.

Conservative party leader David Cameron has become Prime Minister with Nick Clegg as his deputy in a Tory-Lib Dem coalition which brings an end to five days of uncertainty over Britain's future Government. After hours of frantic Tory party negotiations with the Liberal Democrats, at around 9pm last night the 43 year-old Cameron entered 10 Downing Street as its youngest occupant in nearly two centuries, nine years after first entering Parliament. He confirmed Conservative George Osborne will replace Alistair Darling as Chancellor of the Exchequer one door down at Number 11. Vince ...