Nadhim Zahawi has been appointed Boris Johnson's new chancellor after Rishi Sunak dramatically quit the role earlier this evening.
at a private members' club and Mr Johnson was told about allegations against him as far back as 2019.
Mr Sunak, tipped as a potential future leader of the Conservative Party, told the prime minister he was quitting with"great sadness", saying:"To leave ministerial office is a serious matter at any time. For me to step down as chancellor while the world is suffering the economic consequences of the pandemic, the war in Ukraine and other serious challenges is a decision that I have not taken lightly.
"However, the public rightly expect government to be conducted properly, competently and seriously. 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."
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