U.K.'s Sajid Javid Resigns as Chancellor in Johnson Government

The transcript discusses an unexpected political reshuffle involving Boris Johnson and Sajid Javid, leading to market reactions such as a rally in the pound and a decline in gilts. The reshuffle is part of ongoing tensions over fiscal policy and spending plans. Rishi Sunak, a rising star in the Conservative Party, is appointed as the new chancellor, expected to align with Johnson's fiscal policies, potentially leading to increased spending.

What was the main reason for the unexpected resignation of a senior figure?

• Disagreement over firing treasury advisors

• Health issues

• Desire to pursue other opportunities

• Retirement

What was one of the market reactions to the political changes?

• Increase in gilts

• Rise in unemployment

• Decline in stock market

• Rally in the pound

What was the main point of contention between Boris Johnson and Sajid Javid?

• Immigration policies

• Defense spending

• Fiscal spending plans

• Education reforms

Who was appointed as the new chancellor after the resignation?

• Jeremy Corbyn

• Theresa May

• Rishi Sunak

• Dominic Cummings

What is one of Rishi Sunak's beliefs regarding fiscal policy?

• Tax cuts for corporations

• Increase in corporate taxes

• Reduction in public spending

• Increase in VAT