Britain's new Finance Minister Nadhim Zahawi has inherited at a point of time when the country is facing a cost-of-living crisis that risks pushing the UK economy into recession.&nbsp;

A recent report by the Observer suggested that before he was promoted, a flag was raised by officials over the financial affairs of Zahawi.&nbsp;

As per the report, civil servants in the cabinet office's propriety and ethics team are said to have alerted United Kingdom Prime Minister Boris Johnson to a HM Revenue and Customs "flag" over Zahawi before his appointment. Despite that, he was appointed Johnson.&nbsp;

As quoted by the media outlet, one source said this weekend: "It's extraordinary that flags were raised ahead of Nadhim's appointment by the Downing Street proprietary team. These sorts of concerns would stop someone receiving an MBE or OBE. The idea he could be chancellor or even prime minister is unbelievable."&nbsp;

As per the report, the National Crime Agency (NCA) has apparently investigated Zahawi, the Independent reported last week. There is no official comment on why he was probed. The investigation also did not lead to any action and there is no suggestion of wrongdoing.&nbsp;

Johnson appointed Nadhim Zahawi as finance minister after Rishi Sunak resigned from the post. Zahawi, 55, inherits an economy that will face immediate pressure to do more to help struggling households and to lower taxes which are on course to hit their highest level in decades.&nbsp;

Zahawi was previously the education secretary. He was replaced as education secretary by Michelle Donelan, previously a junior education minister.&nbsp;

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Britain's new Finance Minister Nadhim Zahawi has inherited at a point of time when the country is facing a cost-of-living crisis that risks pushing the UK economy into recession.

Britain's new Finance Minister Nadhim Zahawi has inherited at a point of time when the country is facing a cost-of-living crisis that risks pushing the UK economy into recession. A recent report by the Observer suggested that before he was promoted, a flag was raised by officials over the financial affairs of Zahawi. As per the report, civil servants in the cabinet office's propriety and ethics team are said to have alerted United Kingdom Prime Minister Boris Johnson to a HM Revenue and Customs "flag" over Zahawi before his appointment. Despite that, he was appointed Johnson. As quoted by the media outlet, one source said this weekend: "It's extraordinary that flags were raised ahead of Nadhim's appointment by the Downing Street proprietary team. These sorts of concerns would stop someone receiving an MBE or OBE. The idea he could be chancellor or even prime minister is unbelievable." As per the report, the National Crime Agency (NCA) has apparently investigated Zahawi, the Independent reported last week. There is no official comment on why he was probed. The investigation also did not lead to any action and there is no suggestion of wrongdoing. Johnson appointed Nadhim Zahawi as finance minister after Rishi Sunak resigned from the post. Zahawi, 55, inherits an economy that will face immediate pressure to do more to help struggling households and to lower taxes which are on course to hit their highest level in decades. Zahawi was previously the education secretary. He was replaced as education secretary by Michelle Donelan, previously a junior education minister. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Did Boris Johnson ignore when flags were raised ahead of Nadhim Zahawi's appointment?

United Kingdom's foreign minister Liz Truss has joined the race to become Tory&nbsp;leader and the nation's next prime minister. Truss entered the fractious contest on Sunday, by announcing her candidacy in the Daily Telegraph newspaper. AFP reports that Truss declared that she had "a clear vision of where we need to be, and the experience and resolve to get us there". The foreign minister is the 11th person to enter their bid trying to replace Boris Johnson and as of now, she is seen as the frontrunner in the nail-biting contest. Before Truss, the former defence minister Penny Mordaunt had submitted their stake in the Tory leadership contest.

Watch |&nbsp;Search for UK's new PM begins: Who will replace Boris Johnson? Wallace, Sunak clear favourites

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However, as AFP puts it Mordaunt is not among the favourites, but, contests like these can be very unpredictable. More than a dozen lawmakers from the many factions of the conservative party are potentially set to compete and political commenters say few candidates can be "discounted".

The early favourite was former finance minister Rishi Sunak, who drew some strong fire from Johnson loyalists, one of whom even referred to him as "a treacherous bastard."

Also read&nbsp;|&nbsp;<a href="https://www.wionews.com/world/eight-tory-lawmakers-including-the-treacherous-rishi-sunak-announce-their-bid-to-replace-boris-johnson-495984">Eight Tory lawmakers, including the 'treacherous' Rishi Sunak announce their bid to replace Boris Johnson</a>

Sajid Javid, former health minister who has also announced his candidacy, and Sunak both announced their resignations late on Tuesday, inspiring others, junior colleagues to do the same. This was the catalyst that led to Boris Johnson announcing his resignation as Tory leader a mere 36 hours later.

But the field is crowded. Jeremy Hunt, the former foreign secretary who came in second to Johnson in the most recent election in 2019, is running again.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-defence-minister-ben-wallace-says-he-will-not-stand-to-replace-boris-johnson-as-tory-leader-495924" hreflang="en">UK Defence Minister Ben Wallace says he will not stand to replace Boris Johnson as Tory leader</a>

Grant Shapps, the secretary of transportation, and the recently appointed finance minister Nadhim Zahawi has also put in bids.

They are joined on the increasing list of candidates by the attorney general and ardent Brexiteer Suella Braverman, the relatively obscure former equalities minister Kemi Badenoch, and backbench&nbsp;Tory MP Tom Tugendhat.

Rehman Chishti, another Tory MP, also declared his intention to run for leader on Sunday night, bringing the total to 11.

(With inputs from agencies)

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United Kingdom's foreign minister Liz Truss has joined the race to become Tory leader and the nation's next prime minister. Truss entered the fractious contest on Sunday, by announcing her candidacy in the Daily Telegraph newspaper.

United Kingdom's foreign minister Liz Truss has joined the race to become Tory leader and the nation's next prime minister. Truss entered the fractious contest on Sunday, by announcing her candidacy in the Daily Telegraph newspaper. AFP reports that Truss declared that she had "a clear vision of where we need to be, and the experience and resolve to get us there". The foreign minister is the 11th person to enter their bid trying to replace Boris Johnson and as of now, she is seen as the frontrunner in the nail-biting contest. Before Truss, the former defence minister Penny Mordaunt had submitted their stake in the Tory leadership contest. Watch | Search for UK's new PM begins: Who will replace Boris Johnson? Wallace, Sunak clear favourites However, as AFP puts it Mordaunt is not among the favourites, but, contests like these can be very unpredictable. More than a dozen lawmakers from the many factions of the conservative party are potentially set to compete and political commenters say few candidates can be "discounted". The early favourite was former finance minister Rishi Sunak, who drew some strong fire from Johnson loyalists, one of whom even referred to him as "a treacherous bastard." Also read | Eight Tory lawmakers, including the 'treacherous' Rishi Sunak announce their bid to replace Boris Johnson Sajid Javid, former health minister who has also announced his candidacy, and Sunak both announced their resignations late on Tuesday, inspiring others, junior colleagues to do the same. This was the catalyst that led to Boris Johnson announcing his resignation as Tory leader a mere 36 hours later. But the field is crowded. Jeremy Hunt, the former foreign secretary who came in second to Johnson in the most recent election in 2019, is running again. Also read | UK Defence Minister Ben Wallace says he will not stand to replace Boris Johnson as Tory leader Grant Shapps, the secretary of transportation, and the recently appointed finance minister Nadhim Zahawi has also put in bids. They are joined on the increasing list of candidates by the attorney general and ardent Brexiteer Suella Braverman, the relatively obscure former equalities minister Kemi Badenoch, and backbench Tory MP Tom Tugendhat. Rehman Chishti, another Tory MP, also declared his intention to run for leader on Sunday night, bringing the total to 11. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

It's getting crowded in the Tory leader race, Liz Truss joins 10 contenders in a bid to replace Boris Johnson

Former British Cabinet minister Rishi Sunak maintained his lead as the race to replace Boris Johnson as Conservative Party leader and next UK Prime Minister widened on July 10 with a total of nine candidates in the fray.

Rishi Sunak leads race to replace Boris Johnson as next UK PM

In his first public appearance since being forced to quit, Boris Johnson on Monday refused to give his backing to any candidate vying to replace him as British prime minister.

With the Conservative party expected to outline a timetable, 11 hopefuls have declared their intention to stand in the internal leadership contest.

When asked if he would endorse a successor, Johnson said "The job of the prime minister at this stage is to let the party decide, let them get on with it, and to continue delivering on the projects that we were elected to deliver."

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The 58-year-old leader, who won a landslide 80-seat victory in 2019, announced his departure as Conservative party leader last Thursday.

Johnson had a spectacular fall from grace after being hit by waves of scandal including holding lockdown-breaking parties in Downing Street and appointing a senior colleague despite knowing of sexual assault allegations against him.

This sparked a frenzy of resignations which forced Johnson to quit after which he blamed the "herd" for moving against him.

''There's a contest underway and that has happened and you know, I wouldn't want to damage any chances by offering my support,'' Johnson said.

After the latest in a series of scandals broke their willingness to support him, Johnson&nbsp;was deserted by all but a handful of allies.

(With inputs from agencies)

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In his first public appearance since being forced to quit, Boris Johnson on Monday refused to give his backing to any candidate vying to replace him as British prime minister.

In his first public appearance since being forced to quit, Boris Johnson on Monday refused to give his backing to any candidate vying to replace him as British prime minister. With the Conservative party expected to outline a timetable, 11 hopefuls have declared their intention to stand in the internal leadership contest. When asked if he would endorse a successor, Johnson said "The job of the prime minister at this stage is to let the party decide, let them get on with it, and to continue delivering on the projects that we were elected to deliver." × The 58-year-old leader, who won a landslide 80-seat victory in 2019, announced his departure as Conservative party leader last Thursday. Johnson had a spectacular fall from grace after being hit by waves of scandal including holding lockdown-breaking parties in Downing Street and appointing a senior colleague despite knowing of sexual assault allegations against him. This sparked a frenzy of resignations which forced Johnson to quit after which he blamed the "herd" for moving against him. ''There's a contest underway and that has happened and you know, I wouldn't want to damage any chances by offering my support,'' Johnson said. After the latest in a series of scandals broke their willingness to support him, Johnson was deserted by all but a handful of allies. (With inputs from agencies) Watch WION's live TV here:

Boris Johnson refuses to give his backing to any candidate vying to replace him as British prime minister

Eight candidates have already entered the already contentious leadership race after United Kingdom's embattled Prime Minister Boris Johnson tendered his resignation, amid growing discontent. As per an AFP report,&nbsp;the list now includes heavyweights such as former health ministers Sajid Javid and Jeremy Hunt and the current Chancellor of the Exchequer Nadhim Zahawi. Just hours earlier, the traditionally volatile political race had gained another contender after Transport Secretary Grant Shapps announced that he&nbsp;too will run.&nbsp;The Conservative Party's so-called 1922 Committee of legislators will gather on Monday to decide on the timing and regulations for the expected months-long campaign, which may pit more than a dozen Conservative MPs and various factions of the ruling party against one another.

Watch |&nbsp;Search for UK's new PM begins: Who will replace Boris Johnson? Wallace, Sunak clear favourites

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Who are the contenders?

Suella Braverman, the attorney general, former equalities minister Kemi Badenoch, and Tory backbencher Tom Tugendhat have also declared their candidacies.

Foreign Secretary Liz Truss is also expected to join the race on Monday, according to the Mail.

Who is at the frontline of this race?

Former finance minister Rishi Sunak, who played a monumental part in sparking the cabinet uprising that resulted in Johnson's forced resignation on Thursday, is currently the front-runner.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-defence-minister-ben-wallace-says-he-will-not-stand-to-replace-boris-johnson-as-tory-leader-495924" hreflang="en">UK Defence Minister Ben Wallace says he will not stand to replace Boris Johnson as Tory leader</a>

Sunak and Javid both announced their resignations late on Tuesday, which prompted scores of their more junior peers to do the same and forced their former boss to step down as Tory leader 36 hours later.

After declaring his bid via social media late Friday, Sunak, who was ahead of Truss in the most recent survey of party members, received rapid support from numerous prominent MPs.

However, in a sign of the animosity that can taint the race, he has also come under fire from Johnson supporters. According to the Financial Times, Sunak's departure caused "huge anger" inside the departing prime minister's team, with one senior official, referring to him as "a treacherous bastard."

How will the party choose between the candidates?

As the number of contenders grows, several senior politicians have stressed that the field must be narrowed fast and that the final two-person shortlist to be presented to members should be determined within weeks, before parliament's summer holiday begins on July 21.

Also read |&nbsp;<a href="https://www.wionews.com/world/why-is-rishi-sunaks-wife-akshata-murthy-being-criticised-for-serving-tea-to-journalists-495856" hreflang="en">Why is Rishi Sunak's wife Akshata Murthy being criticised for serving tea to journalists?</a>

"Clearly what we would want to do, and I think even the candidates would admit this is, is to eliminate some of those that are clearly not going to get enough support to get in the last two at a relatively early stage," Geoffrey Clifton-Brown, the 1922 committee's treasurer, told Times Radio.

As Britain deals with the toxic confluence of rising inflation, widespread cost-of-living rises, a stalled economy, and relatively high tax rates, taxation is expected to be a prominent aspect of the race, along with candidates' stances on Brexit.

(With inputs from agencies)

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Eight candidates have already entered the already contentious leadership race after United Kingdom's embattled Prime Minister Boris Johnson tendered his resignation, amid growing discontent.

Eight candidates have already entered the already contentious leadership race after United Kingdom's embattled Prime Minister Boris Johnson tendered his resignation, amid growing discontent. As per an AFP report, the list now includes heavyweights such as former health ministers Sajid Javid and Jeremy Hunt and the current Chancellor of the Exchequer Nadhim Zahawi. Just hours earlier, the traditionally volatile political race had gained another contender after Transport Secretary Grant Shapps announced that he too will run. The Conservative Party's so-called 1922 Committee of legislators will gather on Monday to decide on the timing and regulations for the expected months-long campaign, which may pit more than a dozen Conservative MPs and various factions of the ruling party against one another. Watch | Search for UK's new PM begins: Who will replace Boris Johnson? Wallace, Sunak clear favourites Who are the contenders? Suella Braverman, the attorney general, former equalities minister Kemi Badenoch, and Tory backbencher Tom Tugendhat have also declared their candidacies. Foreign Secretary Liz Truss is also expected to join the race on Monday, according to the Mail. Who is at the frontline of this race? Former finance minister Rishi Sunak, who played a monumental part in sparking the cabinet uprising that resulted in Johnson's forced resignation on Thursday, is currently the front-runner. Also read | UK Defence Minister Ben Wallace says he will not stand to replace Boris Johnson as Tory leader Sunak and Javid both announced their resignations late on Tuesday, which prompted scores of their more junior peers to do the same and forced their former boss to step down as Tory leader 36 hours later. After declaring his bid via social media late Friday, Sunak, who was ahead of Truss in the most recent survey of party members, received rapid support from numerous prominent MPs. However, in a sign of the animosity that can taint the race, he has also come under fire from Johnson supporters. According to the Financial Times, Sunak's departure caused "huge anger" inside the departing prime minister's team, with one senior official, referring to him as "a treacherous bastard." How will the party choose between the candidates? As the number of contenders grows, several senior politicians have stressed that the field must be narrowed fast and that the final two-person shortlist to be presented to members should be determined within weeks, before parliament's summer holiday begins on July 21. Also read | Why is Rishi Sunak's wife Akshata Murthy being criticised for serving tea to journalists? "Clearly what we would want to do, and I think even the candidates would admit this is, is to eliminate some of those that are clearly not going to get enough support to get in the last two at a relatively early stage," Geoffrey Clifton-Brown, the 1922 committee's treasurer, told Times Radio. As Britain deals with the toxic confluence of rising inflation, widespread cost-of-living rises, a stalled economy, and relatively high tax rates, taxation is expected to be a prominent aspect of the race, along with candidates' stances on Brexit. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Eight Tory lawmakers, including the 'treacherous' Rishi Sunak announce their bid to replace Boris Johnson

The top seat in the United Kingdom is vacant. It's difficult to predict who fills in the position of Prime Minister. Some place their bets on Rishi Sunak and some on Ben Wallace and some say it could be Dominic Rob we don't know the results yet but it's interesting to see who will the conservative party choose as its next leader.

Who will be UK's next PM? 11 Tory leaders running for the top post

The top seat in the United Kingdom is vacant. It's difficult to predict who fills in the position of Prime Minister. Now, Rishi Sunak has announced his candidacy for the PM post.

Who will be the next UK PM? Rishi Sunak announces candidacy for PM post

The pictures of Akshata Murty serving tea to journalists and photographers waiting outside her residence have been picked up by Twitter users and it has gone viral as the pictures came soon after Rishi Sunak launched his bid to be the next Prime Minister of the United Kingdom following Boris Johnson's resignation. The viral photos of Murty serving tea and biscuit to the journalists and photographers outside their family home in London are from a few days ago. Reportedly, Sunak did not come out of the residence.

Josh Gafson from Sky News shared the photos of Murty bringing them tea. “Big thanks to @RishiSunak’s wife who very kindly brought us tea and biscuits outside his house! P.S. It was very good tea," he wrote on Twitter. Some others also tweeted out photos and videos. However, not everyone saw the gesture kindly. Some Twitter users claimed that the teacups were from a brand called Emma Lacy and cost 38 pounds each.

Also Read:&nbsp;<a href="https://www.wionews.com/world/on-uk-pms-resignation-fevicol-tweets-about-kohinoor-heres-what-it-said-495752">On UK PM's resignation, Fevicol tweets about Kohinoor, here's what it said</a>

"Tone deaf!! The price of that mug could feed a family for 2 days!!" a social media user commented in criticism of Rishi Sunak's move to raise taxes during the pandemic.

Akshata Murty too had her own share of controversies after it was revealed that Akshata, who is believed to be richer than the Queen, had a non-domicile status and did not pay taxes to the UK government on her income outside Britain. After the controversy, Akshata, daughter of Infosys founder Narayan Murthy and author Sudha Murthy, issued a statement clarifying that she would not avail of the non-domicile status and would start paying taxes.

(with inputs from agencies)

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The pictures of Akshata Murty serving tea to journalists and photographers waiting outside her residence have been picked up by Twitter users and it has gone viral as the pictures came soon after Rishi Sunak launched his bid to be the next Prime Minister of the United Kingdom following Boris Johnson's resignation.

The pictures of Akshata Murty serving tea to journalists and photographers waiting outside her residence have been picked up by Twitter users and it has gone viral as the pictures came soon after Rishi Sunak launched his bid to be the next Prime Minister of the United Kingdom following Boris Johnson's resignation. The viral photos of Murty serving tea and biscuit to the journalists and photographers outside their family home in London are from a few days ago. Reportedly, Sunak did not come out of the residence. Josh Gafson from Sky News shared the photos of Murty bringing them tea. “Big thanks to @RishiSunak’s wife who very kindly brought us tea and biscuits outside his house! P.S. It was very good tea," he wrote on Twitter. Some others also tweeted out photos and videos. However, not everyone saw the gesture kindly. Some Twitter users claimed that the teacups were from a brand called Emma Lacy and cost 38 pounds each. Also Read: On UK PM's resignation, Fevicol tweets about Kohinoor, here's what it said "Tone deaf!! The price of that mug could feed a family for 2 days!!" a social media user commented in criticism of Rishi Sunak's move to raise taxes during the pandemic. Akshata Murty too had her own share of controversies after it was revealed that Akshata, who is believed to be richer than the Queen, had a non-domicile status and did not pay taxes to the UK government on her income outside Britain. After the controversy, Akshata, daughter of Infosys founder Narayan Murthy and author Sudha Murthy, issued a statement clarifying that she would not avail of the non-domicile status and would start paying taxes. (with inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Why is Rishi Sunak's wife Akshata Murthy being criticised for serving tea to journalists?

Search for UK's new PM begins: Who will replace Boris Johnson? Wallace, Sunak clear favourites

Former British Finance Minister Rishi Sunak confirmed on Friday (July 8) that he was running to replace Boris Johnson to become the party's next leader and prime minister. Sunak recently resigned, triggering a mass resignation of ministers, who lost confidence in Johnson after a series of scandals. After his announcement, Sunak changed his Twitter name to&nbsp;'Ready For Rishi' which is part of the&nbsp;campaign.&nbsp;

In a campaign video posted on the micro-blogging site Twitter, Sunak declared his candidacy. He said, "Let's restore trust, rebuild the economy and reunite the country. Someone has to grip this moment and make the right decisions. That's why I'm standing to be the next leader of the Conservative Party and your prime minister."&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/who-is-rishi-sunak-indian-origin-british-mp-who-could-replace-outgoing-pm-boris-johnson-495358">Who is Rishi Sunak? Indian-origin British MP who could replace outgoing PM Boris Johnson</a>&nbsp;

He added, "The decisions we make today will decide whether the next generation of British people will also have the chance of a better future. Do we confront this moment with honesty, seriousness and determination? Or do we tell ourselves comforting fairy tales that might make us feel better in the moment, but will leave our children worse off tomorrow?"&nbsp;

Watch his&nbsp;campaign video:&nbsp;

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I’m standing to be the next leader of the Conservative Party and your Prime Minister. 
 
Let’s restore trust, rebuild the economy and reunite the country. <a href="https://twitter.com/hashtag/Ready4Rishi?src=hash&amp;ref_src=twsrc%5Etfw">#Ready4Rishi</a> 
 
Sign up 👉 <a href="https://t.co/KKucZTV7N1">https://t.co/KKucZTV7N1</a> <a href="https://t.co/LldqjLRSgF">pic.twitter.com/LldqjLRSgF</a>
— Ready For Rishi (@RishiSunak) <a href="https://twitter.com/RishiSunak/status/1545426650032111616?ref_src=twsrc%5Etfw">July 8, 2022</a></blockquote>
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WATCH&nbsp;| What's next for Tory party? Who will be the next UK PM?&nbsp;

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ALSO READ&nbsp;|&nbsp;<a href="https://www.wionews.com/world/johnson-not-first-to-be-toppled-by-own-party-these-ex-pms-faced-same-fate-495385">Johnson not first to be toppled by own party, these ex-PMs faced same fate</a>&nbsp;

When Sunak quit as finance minister on Tuesday, it led to a chain of events that eventually forced Johnson's decision to step down. The rules and timetable for the contest to replace Johnson are due to be set out next week by a party committee.&nbsp;

Sunak said in his resignation letter that the public rightly expects the government to be conducted properly, competently and seriously.&nbsp;

He added, "I recognise this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning." &nbsp;

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Former British Finance Minister Rishi Sunak confirmed on Friday (July 8) that he was running to replace Boris Johnson to become the party's next leader and prime minister.

Former British Finance Minister Rishi Sunak confirmed on Friday (July 8) that he was running to replace Boris Johnson to become the party's next leader and prime minister. Sunak recently resigned, triggering a mass resignation of ministers, who lost confidence in Johnson after a series of scandals. After his announcement, Sunak changed his Twitter name to 'Ready For Rishi' which is part of the campaign. In a campaign video posted on the micro-blogging site Twitter, Sunak declared his candidacy. He said, "Let's restore trust, rebuild the economy and reunite the country. Someone has to grip this moment and make the right decisions. That's why I'm standing to be the next leader of the Conservative Party and your prime minister." ALSO READ | Who is Rishi Sunak? Indian-origin British MP who could replace outgoing PM Boris Johnson He added, "The decisions we make today will decide whether the next generation of British people will also have the chance of a better future. Do we confront this moment with honesty, seriousness and determination? Or do we tell ourselves comforting fairy tales that might make us feel better in the moment, but will leave our children worse off tomorrow?" Watch his campaign video: I’m standing to be the next leader of the Conservative Party and your Prime Minister. Let’s restore trust, rebuild the economy and reunite the country. #Ready4Rishi Sign up 👉 https://t.co/KKucZTV7N1 pic.twitter.com/LldqjLRSgF — Ready For Rishi (@RishiSunak) July 8, 2022 × WATCH | What's next for Tory party? Who will be the next UK PM? × ALSO READ | Johnson not first to be toppled by own party, these ex-PMs faced same fate When Sunak quit as finance minister on Tuesday, it led to a chain of events that eventually forced Johnson's decision to step down. The rules and timetable for the contest to replace Johnson are due to be set out next week by a party committee. Sunak said in his resignation letter that the public rightly expects the government to be conducted properly, competently and seriously. He added, "I recognise this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'Ready For Rishi': Former UK Finance Minister Rishi Sunak bids to replace Boris Johnson

UK PM Boris Johnson has stepped down as a leader of ruling Conservative Party. He announced his decision on Thursday (July 7) in a press address outside his official 10 Downing Street residence. Johnson, who came to power three years ago was increasingly cornered due many scandals within his party. The 'partygate' or the alcohol-fuelled parties at Downing Street right when country was under strict lockdown saw him apologise to the parliament number of times.

With Johnson stepping down, speculations are on as to who would succeed him as the leader of the ruling party and UK's next PM. Here are the contenders widely held to have good shot at the top post.

Rishi Sunak

<img alt="Rishi Sunak" data-entity-type="file" data-entity-uuid="eee48d23-f943-428d-8e3a-aa0ba732b690" src="//cdn.wionews.com/sites/default/files/inline-images/000_32AX3EN.jpg" />

Rishi Sunak was UK's first Hindu chancellor of the exchequer. He quit on Tuesday citing many scandals within the government. He has been favourite to succeed Johnson but his prospects are dented by questions over his private wealth and family's tax arrangements.

Sunak, 42, has a high profile on social media, and won plaudits for shoring up the economy during the pandemic.&nbsp;

His resignation from the Johnson government has again made him a favourite.

Jeremy Hunt

<img alt="Jeremy Hunt " data-entity-type="file" data-entity-uuid="cd6eb6f8-b11a-4a2a-8f94-b054374be061" src="//cdn.wionews.com/sites/default/files/inline-images/000_1J03FI.jpg" />

Jeremy Hunt (55), former foreign and health secretary lost leadership contest to Boris Johnson in 2019.

 
Hunt sent a thinly veiled campaign message for a new leadership bid last month, arguing that under Johnson "we are no longer trusted by the electorate" and "we are set to lose the next general election".&nbsp;

But the fluent Japanese speaker lacks Johnson's charisma. His pre-pandemic record as health secretary was recently savaged by a Johnson ally.

Liz Truss

<img alt="Liz Truss" data-entity-type="file" data-entity-uuid="549c137b-1a09-4917-b5dc-f2773bc2328d" src="//cdn.wionews.com/sites/default/files/inline-images/000_32DU4WW.jpg" />

Foreign Secretary Liz Truss, 46, commands popularity among her Conservative Party colleagues. She is liked for her outspokenness and willingness to go on the political attack.

But that has also stoked questions about her judgement, for instance when in February she encouraged Britons to fight in Ukraine. Critics say her leadership posturing is too overt.

Sajid Javid

<img alt="Sajid Javid" data-entity-type="file" data-entity-uuid="34dbfaa0-45a4-4620-bc2e-cdb612a55e5d" src="//cdn.wionews.com/sites/default/files/inline-images/000_32DV662.jpg" />

Javid, former health secretary in Johnson's government was another high-profile name besides Rishi Sunak to quit on Tuesday. He previously resigned as finance minister in 2020

Like Sunak, he also faces questions about his personal wealth and tax affairs.

Ben Wallace

<img alt="Ben Wallace" data-entity-type="file" data-entity-uuid="67c2a3fd-11c6-4ad3-82a6-73e518f98298" src="//cdn.wionews.com/sites/default/files/inline-images/000_32DW47K.jpg" />

The defence secretary, 52, is considered to be straight talking and has a competent image. He recently topped &nbsp;polls of Tory grassroots' preferred next leader due to his role in the Ukraine crisis. He is a former army officer.

Nadhim Zahawi

<img alt="Zahawi" data-entity-type="file" data-entity-uuid="7e69bfc1-5cbb-44a9-b6e4-b1818a1c5216" src="//cdn.wionews.com/sites/default/files/inline-images/000_32DW37N.jpg" />

Zahawi has been newly appointed as finance minister. He was previously praised for overseeing UK's pandemic vaccines rollout.

Zahawi is a former refugee from Iraq who came to Britain as a child speaking no English. Before entering politics, he co-founded the prominent polling company YouGov.

Tom Tugendhat

<img alt="Tom Tugendhat" data-entity-type="file" data-entity-uuid="8449dbcb-a7e1-4e5d-bac0-734664801826" src="//cdn.wionews.com/sites/default/files/inline-images/000_9LZ9NM.jpg" />

The former army officer, 49, is a prominent backbencher who chairs parliament's influential Foreign Affairs Committee.

Tugendhat has indicated he will stand in any leadership contest but there is no love lost between him and Johnson loyalists.

A hawk on China, he has been critical of the government's handling of the troop withdrawal from Afghanistan.&nbsp;

 
Penny Mordaunt

<img alt="Penny Mordaunt" data-entity-type="file" data-entity-uuid="c3c4c387-39d8-4a80-bc3d-31cee9788434" src="//cdn.wionews.com/sites/default/files/inline-images/000_8WU4WW.jpg" />

Mordaunt, 49, is the first woman to have been UK defence secretary and is currently a junior trade minister.

The Royal navy reservist is seen as likely to run but considered a long shot.

A strong Brexit supporter and key figure in the 2016 "Leave" campaign, she has been tipped as a potential unity candidate who could draw support from the Conservative party's warring factions.

Dominic Raab

<img alt="Raab" data-entity-type="file" data-entity-uuid="713b8605-7003-45a5-bacc-1c56249f9fe6" src="//cdn.wionews.com/sites/default/files/inline-images/000_32DU4WJ.jpg" />

Deputy prime minister and justice secretary Dominic Raab, 48, led the country when Johnson was in intensive care in hospital with Covid-19 in 2020.

The former lawyer and karate black belt is seen as a reliable ally.

But his move to justice from the post of foreign secretary was seen as a demotion after he initially failed to cut short a holiday as the Afghan capital Kabul fell to the Taliban.

(With inputs from agencies)

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UK PM Boris Johnson has stepped down as a leader of ruling Conservative Party. He announced his decision on Thursday (July 7) in a press address outside his official 10 Downing Street residence.

UK PM Boris Johnson has stepped down as a leader of ruling Conservative Party. He announced his decision on Thursday (July 7) in a press address outside his official 10 Downing Street residence. Johnson, who came to power three years ago was increasingly cornered due many scandals within his party. The 'partygate' or the alcohol-fuelled parties at Downing Street right when country was under strict lockdown saw him apologise to the parliament number of times. With Johnson stepping down, speculations are on as to who would succeed him as the leader of the ruling party and UK's next PM. Here are the contenders widely held to have good shot at the top post. Rishi Sunak Rishi Sunak was UK's first Hindu chancellor of the exchequer. He quit on Tuesday citing many scandals within the government. He has been favourite to succeed Johnson but his prospects are dented by questions over his private wealth and family's tax arrangements. Sunak, 42, has a high profile on social media, and won plaudits for shoring up the economy during the pandemic. His resignation from the Johnson government has again made him a favourite. Jeremy Hunt Jeremy Hunt (55), former foreign and health secretary lost leadership contest to Boris Johnson in 2019. Hunt sent a thinly veiled campaign message for a new leadership bid last month, arguing that under Johnson "we are no longer trusted by the electorate" and "we are set to lose the next general election". But the fluent Japanese speaker lacks Johnson's charisma. His pre-pandemic record as health secretary was recently savaged by a Johnson ally. Liz Truss Foreign Secretary Liz Truss, 46, commands popularity among her Conservative Party colleagues. She is liked for her outspokenness and willingness to go on the political attack. But that has also stoked questions about her judgement, for instance when in February she encouraged Britons to fight in Ukraine. Critics say her leadership posturing is too overt. Sajid Javid Javid, former health secretary in Johnson's government was another high-profile name besides Rishi Sunak to quit on Tuesday. He previously resigned as finance minister in 2020 Like Sunak, he also faces questions about his personal wealth and tax affairs. Ben Wallace The defence secretary, 52, is considered to be straight talking and has a competent image. He recently topped polls of Tory grassroots' preferred next leader due to his role in the Ukraine crisis. He is a former army officer. Nadhim Zahawi Zahawi has been newly appointed as finance minister. He was previously praised for overseeing UK's pandemic vaccines rollout. Zahawi is a former refugee from Iraq who came to Britain as a child speaking no English. Before entering politics, he co-founded the prominent polling company YouGov. Tom Tugendhat The former army officer, 49, is a prominent backbencher who chairs parliament's influential Foreign Affairs Committee. Tugendhat has indicated he will stand in any leadership contest but there is no love lost between him and Johnson loyalists. A hawk on China, he has been critical of the government's handling of the troop withdrawal from Afghanistan. Penny Mordaunt Mordaunt, 49, is the first woman to have been UK defence secretary and is currently a junior trade minister. The Royal navy reservist is seen as likely to run but considered a long shot. A strong Brexit supporter and key figure in the 2016 "Leave" campaign, she has been tipped as a potential unity candidate who could draw support from the Conservative party's warring factions. Dominic Raab Deputy prime minister and justice secretary Dominic Raab, 48, led the country when Johnson was in intensive care in hospital with Covid-19 in 2020. The former lawyer and karate black belt is seen as a reliable ally. But his move to justice from the post of foreign secretary was seen as a demotion after he initially failed to cut short a holiday as the Afghan capital Kabul fell to the Taliban. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

UK PM Boris Johnson resigns, know who can succeed him

As Boris stares at exit, Mordaunt, Sunak lead race to 10 Downing Street

Nadhim Zahawi will replace Rishi Sunak as the new British finance minister after the latter tendered his resigning on Tuesday. Sunak and Education Minister Sajid Javid both decided to step down from their roles following the controversy over Boris Johnson’s involvement in the row surrounding Tory MP Chris Pincher.

Zahawi has previously served in various roles for the government and after his run as the vaccines minister, he was promoted to education secretary in Boris Johnson's last reshuffle.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-finance-and-health-ministers-quit-in-protest-at-boris-johnsons-leadership-494775" hreflang="en">UK finance and health ministers quit in protest at Boris Johnson's leadership</a>

Steve Barclay, who was previously the chief of staff for Downing Street, was appointed the new Health Secretary. In his resignation letter, Sunak wrote that "the public rightly expect government to be conducted properly, competently and seriously", adding: "I believe these standards are worth fighting for and that is why I am resigning."

The resignations came as a huge blow to Prime Minister Boris Johnson as they made it clear that they have lost faith in him over the appointment of Pincher to the role of deputy chief whip.

Pincher had to quit his job last week after claims that he groped two men at a private members' club came to light and reports suggested that Johnson knew about the incident from 2019.

Also read |&nbsp;<a href="https://www.wionews.com/world/nato-says-no-plans-to-send-troops-to-sweden-or-finland-after-putin-threatens-to-retaliate-494785">NATO says no plans to send troops to Sweden or Finland</a>

Johnson came out to say that he should have sacked Pincher back in 2019 but the apology was not accepted by the party members, and it resulted in the two massive resignations.

Javid, in his resignation letter, also said that "expect integrity from their government" but voters now believed Mr Johnson's administration was neither competent nor "acting in the national interest".

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(With inputs from agencies)

Nadhim Zahawi will replace Rishi Sunak as the new British finance minister after the latter tendered his resigning on Tuesday. Sunak and Education Minister Sajid Javid both decided to step down from their roles following the controversy over Boris Johnson’s involvement in the row surrounding Tory MP Chris Pincher.

Nadhim Zahawi will replace Rishi Sunak as the new British finance minister after the latter tendered his resigning on Tuesday. Sunak and Education Minister Sajid Javid both decided to step down from their roles following the controversy over Boris Johnson’s involvement in the row surrounding Tory MP Chris Pincher. Zahawi has previously served in various roles for the government and after his run as the vaccines minister, he was promoted to education secretary in Boris Johnson's last reshuffle. Also read | UK finance and health ministers quit in protest at Boris Johnson's leadership Steve Barclay, who was previously the chief of staff for Downing Street, was appointed the new Health Secretary. In his resignation letter, Sunak wrote that "the public rightly expect government to be conducted properly, competently and seriously", adding: "I believe these standards are worth fighting for and that is why I am resigning." The resignations came as a huge blow to Prime Minister Boris Johnson as they made it clear that they have lost faith in him over the appointment of Pincher to the role of deputy chief whip. Pincher had to quit his job last week after claims that he groped two men at a private members' club came to light and reports suggested that Johnson knew about the incident from 2019. Also read | NATO says no plans to send troops to Sweden or Finland Johnson came out to say that he should have sacked Pincher back in 2019 but the apology was not accepted by the party members, and it resulted in the two massive resignations. Javid, in his resignation letter, also said that "expect integrity from their government" but voters now believed Mr Johnson's administration was neither competent nor "acting in the national interest". WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. (With inputs from agencies)

Nadhim Zahawi appointed UK finance minister after Rishi Sunak resigns

The chancellor and health secretary have resigned from government, saying they no longer faith in Boris Johnson to lead the country.

UK: Rishi Sunak, Sajid Javid quits Boris Johnson's cabinet

Nadhim Zahawi has been appointed Boris Johnson's new chancellor after Rishi Sunak quit the role. Steve Barclay has been appointed to the role of health secretary, replacing Sajid Javid.

UK: Nadhim Zahawi made chancellor after Rishi Sunak resigns, Steve Barclay replaces Sajid Javid

British Prime Minister Boris Johnson is battling to save his premiership after two of his most senior Cabinet ministers Rishi Sunak and Sajid Javid resigned within 10 minutes of each other.

Boris Johnson hangs on by a thread after Rishi Sunak, Sajid Javid resigns

UK Finance Minister Rishi Sunak and Health Secretary Sajid Javid submitted their resignations on Tuesday, saying they no longer faith in Boris Johnson to lead the country.

UK: Rishi Sunak and Sajid Javid resign from Cabinet within minutes of each other

Average British workers’ wages will be down, productivity will be hit, and UK’s competitive edge will be lost during the rest of the decade due to Brexit, a new study has claimed.

The Resolution Foundation think tank’s report, in collaboration with the London School of Economics, has said that splitting away from the EU would make Britain “poorer” during the 2020s and accentuate the cost of living crisis.

The study said that the immediate impact of Brexit was already clear, with a “depreciation-driven inflation spike” increasing the cost of living for households and cutting investment.

“A less open Great Britain is expected to be poorer and less productive,” it said, according to The Guardian.

The study estimated that UK’s labour productivity will dwindle by 1.3 per cent by the end of the decade through changes in trading rules, contributing to weaker wage growth.

They said that real pay was set to be £470 lower per worker each year, on average, if Britain goes ahead with its Brexit plan.

It further said that the region would see a 2.7 per cent fall in manufacturing output by 2030 compared with a scenario in which the UK voted to remain in the EU in 2016.

The report also added that the northeast of England is expected to be hit hardest by Brexit, since its firms are particularly reliant on exports to the EU.

The report is authored by LSE academic Swati Dhingra, an outspoken Brexit critic picked by chancellor Rishi Sunak to sit on the Bank of England’s interest-rate setting monetary policy committee from August.

(With inputs from agencies)

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Average British workers’ wages will be down, productivity will be hit, and UK’s competitive edge will be lost during the rest of the decade due to Brexit, a new study has claimed.

Average British workers’ wages will be down, productivity will be hit, and UK’s competitive edge will be lost during the rest of the decade due to Brexit, a new study has claimed. The Resolution Foundation think tank’s report, in collaboration with the London School of Economics, has said that splitting away from the EU would make Britain “poorer” during the 2020s and accentuate the cost of living crisis. The study said that the immediate impact of Brexit was already clear, with a “depreciation-driven inflation spike” increasing the cost of living for households and cutting investment. “A less open Great Britain is expected to be poorer and less productive,” it said, according to The Guardian. The study estimated that UK’s labour productivity will dwindle by 1.3 per cent by the end of the decade through changes in trading rules, contributing to weaker wage growth. They said that real pay was set to be £470 lower per worker each year, on average, if Britain goes ahead with its Brexit plan. It further said that the region would see a 2.7 per cent fall in manufacturing output by 2030 compared with a scenario in which the UK voted to remain in the EU in 2016. The report also added that the northeast of England is expected to be hit hardest by Brexit, since its firms are particularly reliant on exports to the EU. The report is authored by LSE academic Swati Dhingra, an outspoken Brexit critic picked by chancellor Rishi Sunak to sit on the Bank of England’s interest-rate setting monetary policy committee from August. (With inputs from agencies) WATCH WION LIVE HERE

Brexit will make UK poorer by 2030, wages will see a massive drop, claims study

British media reported this week that the Chancellor of the Exchequer,&nbsp;Rishi Sunak, is considering a proposal to feature historical figures from the Black, Asian and minority ethnic (BAME) community of the country on a set of coins titled "Service to the Nation".

The Black Lives Matter movement is shaking the pillars of history in Britain. It is reminding the former coloniser of its persecutions, which includes the enslavement of India.&nbsp;Britain is now seeking to undo its wrongs by recognising heroes from its ethnic minority communities, if the proposal is passed, it will be the first time that non-white people will be featured on British coins or notes.

The plan has been submitted to the Royal Mint, which is to come up with proposals and designs and the name Indian-origin Noor Inayat Khan&nbsp;is on top of the the list. She was&nbsp;a descendent of Tipu Sultan, a ruler of the Mysore kingdom in India.&nbsp;

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Noor Inayat Khan&nbsp;was labelled&nbsp;a spy by UK during World War II. After she was executed&nbsp;at a concentration camp in Germany,&nbsp;Britain now wants to honour her.

She was born in Moscow in 1914&nbsp;to an Indian father and an American mother and raised a Sufi. Her father Inayat Khan founded the Sufi order in the West.&nbsp;It is known by his name, the Inayati order.

During the World War-I, she moved along with her family first to London and then to Paris.

In November 1940, she became a wire operator in the British Royal Airforce as a part&nbsp;the Women’s Auxiliary Air Force.&nbsp;She became the first radio operator to be sent to Paris to work for SOE’s Prosper resistance network under the codename Madeleine.

Shaped by a cosmopolitan family, she never forgot her origins or humanist faith fighting against fascism till her last breath.&nbsp;The Germans captured her in 1943 and&nbsp;classified her as ''highly dangerous''.

On September 13, 1944, Noor was executed at the Dachau concentration camp in southern Germany.&nbsp;In 1949, Britain honoured her posthumously with the George Cross.

During the war, Noor used to say, ''I wish some Indians would win high military distinction in this war''.

She believed the courage and bravery would build a bridge between England and India, which was still a British colony.

She did not witness India become free&nbsp;but&nbsp;as she wanted the bravery of Indians during the war is being remembered.

British media reported this week that the Chancellor of the Exchequer, Rishi Sunak, is considering a proposal to feature historical figures from the Black, Asian and minority ethnic (BAME) community of the country on a set of coins titled "Service to the Nation".

British media reported this week that the Chancellor of the Exchequer, Rishi Sunak, is considering a proposal to feature historical figures from the Black, Asian and minority ethnic (BAME) community of the country on a set of coins titled "Service to the Nation". The Black Lives Matter movement is shaking the pillars of history in Britain. It is reminding the former coloniser of its persecutions, which includes the enslavement of India. Britain is now seeking to undo its wrongs by recognising heroes from its ethnic minority communities, if the proposal is passed, it will be the first time that non-white people will be featured on British coins or notes. The plan has been submitted to the Royal Mint, which is to come up with proposals and designs and the name Indian-origin Noor Inayat Khan is on top of the the list. She was a descendent of Tipu Sultan, a ruler of the Mysore kingdom in India. × Noor Inayat Khan was labelled a spy by UK during World War II. After she was executed at a concentration camp in Germany, Britain now wants to honour her. She was born in Moscow in 1914 to an Indian father and an American mother and raised a Sufi. Her father Inayat Khan founded the Sufi order in the West. It is known by his name, the Inayati order. During the World War-I, she moved along with her family first to London and then to Paris. In November 1940, she became a wire operator in the British Royal Airforce as a part the Women’s Auxiliary Air Force. She became the first radio operator to be sent to Paris to work for SOE’s Prosper resistance network under the codename Madeleine. Shaped by a cosmopolitan family, she never forgot her origins or humanist faith fighting against fascism till her last breath. The Germans captured her in 1943 and classified her as ''highly dangerous''. On September 13, 1944, Noor was executed at the Dachau concentration camp in southern Germany. In 1949, Britain honoured her posthumously with the George Cross. During the war, Noor used to say, ''I wish some Indians would win high military distinction in this war''. She believed the courage and bravery would build a bridge between England and India, which was still a British colony. She did not witness India become free but as she wanted the bravery of Indians during the war is being remembered.

Indian-origin British spy Noor Inayat Khan to appear on coins in UK

Rishi Sunak, the British Chancellor, has been accused of wasting £11 billion ($14 billion) of taxpayers' money by paying too much interest on the government's debt.

Sunak's refusal to insure against interest rate rises on £900 billion in reserves accumulated through quantitative easing caused the losses, according to the National Institute of Economic and Social Research.

The Conservatives have already accused Gordon Brown, Labour's former chancellor, of losing money when he sold some of the UK's gold reserves at rock-bottom prices, but Sunak's losses are far greater.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-finance-minister-rishi-sunak-unveils-18-billion-cost-of-living-bailout-package-482383">UK Finance Minister Rishi Sunak unveils $18 billion cost-of-living bailout package</a>

Sunak's actions had left the country with "a massive cost and high continued exposure to interest rate risk," according to Professor&nbsp;Jagjit Chadha, the institute's director.

The losses were described by Labour as "astronomical" and the government was accused of "playing fast and loose" with public finances.

Watch |&nbsp;UK: Rishi Sunak to unveil cost of living support package

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The Treasury responded by stating that it has a "clear financial strategy" in place to meet the government's funding requirements.

According to the Financial Times, the Bank of England generated £895 billion through its quantitative easing programme, the majority of which was spent on government bonds purchased by pension funds and other investors.

Also read |&nbsp;<a href="https://www.wionews.com/world/uk-finance-minister-rishi-sunak-and-wife-akshata-murty-make-sunday-times-rich-list-debut-480790">UK finance minister Rishi Sunak and wife Akshata Murty make Sunday Times Rich List debut</a>

The Bank of England had to pay interest at its official rate when such investors put the funds in commercial bank deposits.

When the official rate was still 0.1 percent last year, the institute recommended the government convert the debt into longer-term government bonds to protect the expense of servicing it from rising interest rates. 
&nbsp;

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Rishi Sunak, the British Chancellor, has been accused of wasting £11 billion ($14 billion) of taxpayers' money by paying too much interest on the government's debt.

Rishi Sunak, the British Chancellor, has been accused of wasting £11 billion ($14 billion) of taxpayers' money by paying too much interest on the government's debt. Sunak's refusal to insure against interest rate rises on £900 billion in reserves accumulated through quantitative easing caused the losses, according to the National Institute of Economic and Social Research. The Conservatives have already accused Gordon Brown, Labour's former chancellor, of losing money when he sold some of the UK's gold reserves at rock-bottom prices, but Sunak's losses are far greater. Also read | UK Finance Minister Rishi Sunak unveils $18 billion cost-of-living bailout package Sunak's actions had left the country with "a massive cost and high continued exposure to interest rate risk," according to Professor Jagjit Chadha, the institute's director. The losses were described by Labour as "astronomical" and the government was accused of "playing fast and loose" with public finances. Watch | UK: Rishi Sunak to unveil cost of living support package The Treasury responded by stating that it has a "clear financial strategy" in place to meet the government's funding requirements. According to the Financial Times, the Bank of England generated £895 billion through its quantitative easing programme, the majority of which was spent on government bonds purchased by pension funds and other investors. Also read | UK finance minister Rishi Sunak and wife Akshata Murty make Sunday Times Rich List debut The Bank of England had to pay interest at its official rate when such investors put the funds in commercial bank deposits. When the official rate was still 0.1 percent last year, the institute recommended the government convert the debt into longer-term government bonds to protect the expense of servicing it from rising interest rates. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

UK: Rishi Sunak accused of wasting $14 billion in debt interest payments

UK Finance Minister Rishi Sunak on Thursday unveiled his government’s £15 billion (US $18.85 billion) cost-of-living bailout package to help millions of people struggling with the worst cost-of-living crisis&nbsp;in decades.

The announcement comes in the wake of soaring energy costs, which rose by more than 40 per cent&nbsp;following the Russia-Ukraine war.

Apart from the energy crisis, UK is also battling one of its highest inflation in 40 years that has severely dented the pockets of average consumers in the country, with average earnings seeing a drop by 1.9 per cent from a year earlier, the biggest decline since 2013.

With the shadow of Susan Grey's report&nbsp;on lockdown parties hanging over Boris Johnson’s government’s head, Sunak addressed the House of Commons,&nbsp;by talking about the inflation scenario, saying that the government cannot “solve every problem”.

But Sunak said he would not allow people to be “set so far back they might never recover” - boasting that cost-of-living support now totals £37billion this year.

He cautioned that inflation was becoming entrenched, saying: “Over the course of the year the situation has evolved and got more serious,” Daily Mail reported.

Among the slew of announcements include:

1) One-off payments of different amounts will be given to the most vulnerable - the elderly, those with disabilities, and those with the lowest incomes

2) All households will receive a £400 discount on energy bills

3) Eight million of the lowest income families will also get a one-off payment of £650, Sunak says

4) He confirms a temporary windfall tax on oil and gas giants to fund the payments - a move called for by Labour

Watch |&nbsp;UK: Rishi Sunak to unveil cost of living support package

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5) There will be a one-off disability cost of living payment of £150, and pensioners will get £300

6) The UK government has also introduced a £5 billion ($6.3 billion) tax on the windfall profits of its oil and gas companies.

7) Sunak unveiled the new 25% tax on the profits of energy producers such as BP and Shell on Thursday. The levy will be phased out once oil and gas prices fall back to more normal levels, he said.

8) He said, “The oil and gas sector is making extraordinary profits, not as the result of recent changes, risk-taking or innovation or efficiency, but as the result of surging global commodity prices."

(With inputs from agencies)

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UK Finance Minister Rishi Sunak on Thursday unveiled his government’s £15 billion (US $18.85 billion) cost-of-living bailout package to help millions of people struggling with the worst cost-of-living crisis in decades.

UK Finance Minister Rishi Sunak on Thursday unveiled his government’s £15 billion (US $18.85 billion) cost-of-living bailout package to help millions of people struggling with the worst cost-of-living crisis in decades. The announcement comes in the wake of soaring energy costs, which rose by more than 40 per cent following the Russia-Ukraine war. Apart from the energy crisis, UK is also battling one of its highest inflation in 40 years that has severely dented the pockets of average consumers in the country, with average earnings seeing a drop by 1.9 per cent from a year earlier, the biggest decline since 2013. With the shadow of Susan Grey's report on lockdown parties hanging over Boris Johnson’s government’s head, Sunak addressed the House of Commons, by talking about the inflation scenario, saying that the government cannot “solve every problem”. But Sunak said he would not allow people to be “set so far back they might never recover” - boasting that cost-of-living support now totals £37billion this year. He cautioned that inflation was becoming entrenched, saying: “Over the course of the year the situation has evolved and got more serious,” Daily Mail reported. Among the slew of announcements include: 1) One-off payments of different amounts will be given to the most vulnerable - the elderly, those with disabilities, and those with the lowest incomes 2) All households will receive a £400 discount on energy bills 3) Eight million of the lowest income families will also get a one-off payment of £650, Sunak says 4) He confirms a temporary windfall tax on oil and gas giants to fund the payments - a move called for by Labour Watch | UK: Rishi Sunak to unveil cost of living support package 5) There will be a one-off disability cost of living payment of £150, and pensioners will get £300 6) The UK government has also introduced a £5 billion ($6.3 billion) tax on the windfall profits of its oil and gas companies. 7) Sunak unveiled the new 25% tax on the profits of energy producers such as BP and Shell on Thursday. The levy will be phased out once oil and gas prices fall back to more normal levels, he said. 8) He said, “The oil and gas sector is making extraordinary profits, not as the result of recent changes, risk-taking or innovation or efficiency, but as the result of surging global commodity prices." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

UK Finance Minister Rishi Sunak unveils $18 billion cost-of-living bailout package

UK Finance Minister Rishi Sunak unveiled US $18.85 billion worth cost-of-living bailout package to help millions of people struggling with the worst cost-of-living crisis in decades.

United Kingdom: Energy bills to be cut by hundreds for households, Rishi Sunak unveils new package

The UK government will announce an emergency package to help people through the cost of living crisis on Thursday. Treasury sources suggested that Sunak's fresh support would focus on the poorest households.

UK: Rishi Sunak to unveil cost of living support package

UK Civil Servant Sue Gray, whose probe report on the lockdown-breaching parties in Downing Street and Whitehall is set to be released, is reportedly planning to “name and shame” the No.10 staff who broke the Covid rules.

According to BBC, the senior civil servant is expected to publish her full report on the lockdown parties next week after the Metropolitan Police finished their investigation.

The Met have not named any of the 83 individuals who have been fined. UK Prime Minister Boris Johnson and his wife Carrie have each received one fine.

Reports say that Gray is contacting the ones she wants to name, ahead of the publication of her report.

Those who are expected to be named have been given until 5 pm on Sunday to respond to information Gray intends to publish about them.

Meanwhile, Johnson said it would be "entirely up to Sue Gray" whom she names when publishing her report, adding, "Fingers crossed, that will be very soon."

Watch | London Police end investigation into lockdown parties in PM Boris Johnson's office

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The prime minister’s fate hangs in balance as the Conservative MPs are reportedly waiting for the report to be published in full before demanding his resignation.

UK Deputy Prime Minister Dominic Raab has also called for ministers who were fined for breaching Covid regulation to be named.

Also read |&nbsp;<a href="https://www.wionews.com/world/partygate-uk-pm-boris-johnson-to-not-receive-further-fines-as-met-finishes-probe-480539" hreflang="en">‘Partygate’: UK PM Boris Johnson to not receive further fines as Met finishes probe</a>

Speaking to BBC Breakfast on Friday, Raab said there should be “transparency” in the report about any ministers who have been fined.

What we have said is that it’s right that if there’s a minister who has been fined, of course there needs to be transparency around that. I think that’s right.”

Also read |&nbsp;<a href="https://www.wionews.com/world/partygate-scandal-british-pm-boris-johnson-and-finance-minister-rishi-sunak-fined-470579">'Partygate' scandal: British PM Boris Johnson and finance minister Rishi Sunak fined</a>

The probe, which lasted four months and cost £460,000, has led to 126 fines being issued for events in and around Downing Street.

An interim version of Gray’s report was published in January, however it did not name individuals but criticised "failures of leadership and judgement" and said some events should not have "been allowed to take place".

(With inputs from agencies)

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UK Civil Servant Sue Gray, whose probe report on the lockdown-breaching parties in Downing Street and Whitehall is set to be released, is reportedly planning to “name and shame” the No.

UK Civil Servant Sue Gray, whose probe report on the lockdown-breaching parties in Downing Street and Whitehall is set to be released, is reportedly planning to “name and shame” the No.10 staff who broke the Covid rules. According to BBC, the senior civil servant is expected to publish her full report on the lockdown parties next week after the Metropolitan Police finished their investigation. The Met have not named any of the 83 individuals who have been fined. UK Prime Minister Boris Johnson and his wife Carrie have each received one fine. Reports say that Gray is contacting the ones she wants to name, ahead of the publication of her report. Those who are expected to be named have been given until 5 pm on Sunday to respond to information Gray intends to publish about them. Meanwhile, Johnson said it would be "entirely up to Sue Gray" whom she names when publishing her report, adding, "Fingers crossed, that will be very soon." Watch | London Police end investigation into lockdown parties in PM Boris Johnson's office The prime minister’s fate hangs in balance as the Conservative MPs are reportedly waiting for the report to be published in full before demanding his resignation. UK Deputy Prime Minister Dominic Raab has also called for ministers who were fined for breaching Covid regulation to be named. Also read | ‘Partygate’: UK PM Boris Johnson to not receive further fines as Met finishes probe Speaking to BBC Breakfast on Friday, Raab said there should be “transparency” in the report about any ministers who have been fined. What we have said is that it’s right that if there’s a minister who has been fined, of course there needs to be transparency around that. I think that’s right.” Also read | 'Partygate' scandal: British PM Boris Johnson and finance minister Rishi Sunak fined The probe, which lasted four months and cost £460,000, has led to 126 fines being issued for events in and around Downing Street. An interim version of Gray’s report was published in January, however it did not name individuals but criticised "failures of leadership and judgement" and said some events should not have "been allowed to take place". (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

‘Partygate’: UK Civil Servant Sue Gray to ‘name and shame’ Covid rule-breakers, say reports

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