Jacob Rees-Mogg resigns as Business Secretary before Sunak announces new Cabinet

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Jacob Rees-Mogg has resigned as Business Secretary ahead of Rishi Sunak’s Cabinet reshuffle.

The close ally of Boris Johnson handed his letter of resignation to the new Prime Minister shortly after he entered No10.

A source close to Jacob Rees-Mogg said: “He knows he was very close to the previous two regimes and it didn’t seem likely he was going to be appointed in the new Cabinet.

“He’s happy to support the Prime Minister from the backbenches.”

In the summer the Brexiteer had warned he would not serve in a Government headed up by Mr Sunak, labelling his policies as “socialist”.

Writing in a newspaper in July, he said: “Sunak has squandered the Conservative Party’s decade-long effort to build a competitive tax regime and it will be the French and the Americans who will benefit, instead of the British people.”

He added that as Chancellor the new Prime minister had raised “the tax burden to the highest since the socialism of 1950s Labour” and planned a rise in corporation tax “which will deter investment and economic growth when we need it most”.

The timing of his resignation suggests he did not expect to be asked to continue in his current role by the new Prime Minister.

Allies of Mr Sunak say he plans to unite the Conservatives by appointing ministers from all wings of the party.

Yesterday, James Cleverly, the current Foreign Secretary, backed the Prime Minister to overhaul the Cabinet.

He said: “We have got to have the first 15 on the pitch. I know that Rishi understands that.”

More to follow…

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