New UK prime minister Boris Johnson has named Sajid Javid as chancellor of the exchequer, replacing Philip Hammond, who resigned yesterday. Hammond had tendered his resignation to outgoing PM Theresa May, saying in his letter of resignation: “I believe that your successor must be free to choose a chancellor who is fully aligned with his policy position.” Hammond had already made clear his policy differences with Johnson over the Brexit issue.

Javid, who moves over from his post as home secretary, had previously served as secretary of state in the Department of Business, Innovation and Skills in 2016 and as both economic secretary and financial secretary in the Treasury.

Andrea Leadsom takes over from Greg Clark as secretary fo state for Business, Energy & Industrial Strategy and Alok Sharma replaces Rory Stewart as secretary fo state for International Development.