Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

UK PM Rishi Sunak may announce mini cabinet reshuffle on Tuesday -source

Published 06/02/2023, 21:15
Updated 06/02/2023, 23:10
© Reuters. British Prime Minister Rishi Sunak attends the Prime Minister's Questions at the House of Commons in London, Britain, February 1, 2023. UK Parliament/Jessica Taylor/Handout via REUTERS

LONDON (Reuters) -British Prime Minister Rishi Sunak may announce a mini reshuffle of his Cabinet on Tuesday and is considering breaking up the government's business department into three separate ministries, a source familiar with the discussions said on Monday.

The reshuffle of ministers comes just over a week after Sunak sacked Conservative Party chair Nadhim Zahawi over his tax affairs, and as the government has fallen further behind the main opposition Labour Party in opinion polls.

Sunak is also under pressure from opposition parties and even some lawmakers in his own party to sack deputy Prime Minister Dominic Raab, who is facing an internal investigation over allegations of bullying.

Sunak's office declined to comment on the possible reshuffle, which was first reported by The Sun.

The government's Department for Business, Energy and Industrial Strategy (BEIS) could be broken up to see a new energy department, with business and trade merged. There would be a new science and digital department too, the Sun reported.

The Department for Digital, Culture, Media and Sport could also be broken up with culture and sport as their own standalone departments, the newspaper said.

Some Conservative lawmakers were taken by surprise by reports of an impending reshuffle, questioning the timing because, they said, new prime ministers usually set about changing their teams sooner than after 100 days in power.

Sunak has said his government will focus on tackling five priorities from cutting inflation to reducing illegal migration as he seeks to win the next election, expected to be held before the end of next year.

Some of the changes could reflect Sunak's priorities, particularly around technology and innovation, after he pledged in January to increase public funding in research and development to 20 billion pounds ($24.06 billion).

© Reuters. British Prime Minister Rishi Sunak attends the Prime Minister's Questions at the House of Commons in London, Britain, February 1, 2023. UK Parliament/Jessica Taylor/Handout via REUTERS

The governing Conservative party is currently around 20 percentage points behind Labour in most polls.

($1 = 0.8312 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.