Nadhim Zahawi appointed chancellor following Sunak resignation

Scandal-ridden decade

James Baxter-Derrington
clock • 3 min read

Nadhim Zahawi has been appointed Chancellor of the Exchequer, following Rishi Sunak’s shock resignation last night (5 July).

Sunak acknowledged the inopportune timing of this in his resignation letter, noting both the "economic consequences of the pandemic" and war in Ukraine, among other "serious challenges", but argued that government standards are "worth fighting for". "The public rightly expect government to be conducted properly, competently and seriously," he wrote. "I recognise this may be my last ministerial job, but these standards are worth fighting for and this is why I am resigning." Spring Statement 2022: UK to face biggest fall in living standards since records began Sunak also explained th...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on UK