Sajid Javid Resigns as U.K. Chancellor Following Showdown With Johnson

The transcript discusses a significant political event in the UK, where the Chancellor unexpectedly resigned, causing a stir in the markets. This event is linked to the upcoming budget and the Conservative party's spending plans, especially in the context of post-Brexit Britain. The resignation is seen as a move that could lead to increased government spending, which is atypical for the Conservative party. The market reacted with a rise in the pound and a fall in gilts, indicating expectations of future economic changes.

What historical period is referenced to highlight the rarity of a Chancellor's resignation?

• 2000s

• 1980s

• 1970s

• 1990s

What was the immediate effect on the pound following the Chancellor's resignation?

• It plummeted

• It rose slightly

• It remained stable

• It fell sharply

What financial instrument saw a decline following the Chancellor's resignation?

• Bonds

• Gilts

• Stocks

• Commodities

What is the expected reason for increased government spending according to the transcript?

• To satisfy new voters

• To reduce taxes

• To increase exports

• To improve infrastructure

What was the likely reason for the Chancellor's departure?

• Personal reasons

• Health issues

• Desire for a new career

• Disagreement over spending plans