Rishi Sunak has been appointed as Chancellor of the Exchequer following the surprise resignation of Sajid Javid on 13 February.
Former Home Secretary Sajid Javid was appointed Chancellor by Boris Johnson when he became Prime Minister in July. The resignation comes in the wake of rumours of tensions between Mr Javid and the Prime Minister's senior adviser Dominic Cummings.
Mr Sunak, who has been the Conservative MP for Richmond in Yorkshire since 2015, was formerly Chief Secretary to the Treasury.
His appointment as Chancellor caps a rapid rise through the government ranks, as Mr Sunak was a junior Housing Minister only a few months ago.
He is scheduled to deliver his first Budget in less than four weeks' time on 11 March, following the sudden departure of Mr Javid. Commenting on the Budget, a spokesperson for Downing Street said: 'Extensive preparations have already been carried out for the Budget, and they will continue at pace.'