Liz Truss appoints Jeremy Hunt as chancellor after sacking Kwarteng

Former leadership contender is back in cabinet as PM tries to reach out to other sections of Tory party

Jeremy Hunt has been appointed as Liz Truss’s new chancellor, in a stunning reversal of political fortune and a sign that the beleaguered prime minister wants to reach out to other sections of the Conservative party.

Millionaire Tory minister Jeremy Hunt has twice tried unsuccessfully to become Conservative leader

A wider mini-reshuffle also resulted in Chris Philp, Kwarteng’s No 2 as chief secretary to the Treasury, being sacked from his role and moved to the Cabinet Office to become paymaster general

Hunt, who has been on the backbenches since Boris Johnson became prime minister in 2019, is seen as coming from the more one-nation wing of the party

His appointment indicates Truss wants to broaden her support – and is likely to slow down her rush to introduce tax cuts.

The appointment appears to be a response to criticism from Tory MPs that Truss’s initial cabinet was chosen for loyalty rather than competence

Both Labour and the Liberal Democrats said Truss now needed to stand down