Sajid Javid has resigned as chancellor after being asked by Boris Johnson to sack all of his advisers.
He is set to be replaced by Rishi Sunak, the chief secretary to the Treasury, who is a favourite within No 10.
Javid has been in post since the summer and has repeatedly clashed with Johnson’s senior adviser, Dominic Cummings.
A source close to Javid said: “He has turned down the job of chancellor of the exchequer. The PM said he had to fire all his special advisers and replace them with No 10 special advisers to make it one team. The chancellor said no self-respecting minister would accept those terms.”
More details soon …