Treasury chief secretary Chris Philp has been moved to the Cabinet Office following the sacking of Chancellor Kwasi Kwarteng.
Prime Minister Liz Truss is seeking to get her government back on track following the economic turmoil unleashed by the mini-budget.
Chancellor’s letter to Truss after sacking revealed – Politics latest
The Treasury shake-up comes as the government is set to raise corporation tax despite promising not to do so in its recent fiscal statement.
Former foreign secretary Jeremy Hunt has been appointed as Mr Kwarteng’s replacement.
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