Prime minister Rishi Sunak appoints Grant Shapps as business secretary with Jeremy Hunt retained as chancellor
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Posted: Tue 25th Oct 2022
After officially becoming the UK's new prime minister following an audience with the King, Rishi Sunak has begun appointing his new Cabinet with Grant Shapps taking on the role of business secretary.
He replaces Jacob Rees-Mogg who was given the position by former leader Liz Truss on 6 September but resigned earlier today.
Shapps takes on the business brief after spending only a week as home secretary. He got the job on 19 October after the resignation of Suella Braverman.
The MP for Welwyn Hatfield has some business experience having founded PrintHouse Corporation, a design, print, website creation and marketing business, in 1990.
He also set up How To Corp Limited, a web publishing company which has caused controversy.
Jeremy Hunt re-appointed as chancellor
Sunak has kept Jeremy Hunt as chancellor. He replaced Kwasi Kwarteng during Liz Truss' administration.
Hunt reversed most of the tax cuts in Kwarteng's controversial mini-Budget although the increase to National Insurance, which Sunak announced as chancellor, has been cancelled and will not go ahead.
Hunt is due to give a fiscal plan statement on 31 October.
UPDATE 26/10/22: The Treasury has announced that the fiscal plan statement has been upgraded to a full Autumn Statement and will now take place on 17 November.
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