Following Kwasi Kwarteng's resignation from the position after less than six weeks in the position, the office of Prime Minister Liz Truss announced on Friday that former foreign minister Jeremy Hunt has been appointed Britain's finance minister.
Hunt, a former foreign minister, has twice failed to win the leadership of the ruling Conservative Party; first, he lost to Boris Johnson, and second, he was defeated in the first round of voting when Truss won.
Hunt, who is viewed as being on the center-right of the party, supported Truss's challenger for the position of prime minister, former finance minister Rishi Sunak, and is regarded by many as a reliable figure.
Hunt, who has also previously served as health minister and culture minister, becomes Britain’s fourth finance minister in as many months.
Truss’s office also said Edward Argar had replaced Chris Philp as Chief Secretary to the Treasury, the second most important job in the department.