Mr Hunt announced U-turns on almosy all of Ms Truss’ economic plans and vowed to do “whatever it takes” to lower Government debt.
The former deputy governor of the Bank of England, Sir Charlie Bean, suggested that the Chancellor was not replaced when the new Prime Minister takes charge.
He said on BBC Radio 4’s The World at One: “Whoever comes in pretty much has to accept whatever Jeremy Hunt has planned for the fiscal statement. What you couldn’t really have is a comprehensive re-opening of the issues.
“It would be even worse if the new Prime Minister decided to replace Jeremy Hunt with another chancellor. That really would create a lot of volatility in the financial markets. There has really to be an acceptance on the part of whoever takes over that they will defer to Jeremy Hunt.”
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In a poll that ran from midday on Sunday, October 23, to 11am on Monday, October 24, Express.co.uk asked readers: “Should Jeremy Hunt remain as Chancellor under new PM?”
Overall, 3,093 readers cast their votes with the vast majority, 84 percent (2,612 people) answering “no”, Mr Hunt should not remain as Chancellor.
Whereas 14 percent (425 people) said “yes” in support of him remaining, while a further two percent (56 people) said they did not know.
Hundreds of comments were left below the accompanying article as readers discussed Mr Hunt’s future.
Many readers argued against Mr Hunt remaining in his role, with one reader, username Flies In commenting: “I can’t think of anything worse.”
Username Poppydog1944 agreed, commenting: “Absolutely not!”
Another, username imppy55 said: “There should be no Remainers in Cabinet.”
And username GavsRules said: “Chancellors are appointed by the current PM. So why would Hunt be exempt?”
Some argued that a new Chancellor should be chosen by the next Prime Minister to improve Tory chances at the next election.
Username Lesi said: “NO NO NO NEVER, they will lose the next election if he stays.”
Username Proudtobebritish said: “No, the next Prime Minister MUST set up the Government to deliver the package that got them the election nothing else. Anyone interfering needs replacing. If they don’t, then they will certainly lose the next general election.”
While username tlm wrote: “Our Chancellor needs to be qualified for the job, he should be a chartered accountant with further qualifications in economics.”
However, other readers commented that Mr Hunt should continue as Chancellor, like username virginiapinkn, who wrote: “Keep him where he is.”
Similarly, username Klingon warrior, said: “Might be good for continuity for Hunt to remain as Chancellor.”
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The Chancellor is due to deliver his budget explaining the country’s medium-term fiscal plan on October 31, but this could be delayed due to the turnaround after the conclusion of Tory leadership contest this week.
The Office for Budget Responsibility has said that £40billion is needed to repair public finances and Mr Hunt could raise half of this through increasing taxes.
Carl Emmerson, deputy director of the Institute for Fiscal Studies, warned that the budget could be delayed by the Tory leadership race. He said : “Given the timeline for determining the next Prime Minister, the degree of economic uncertainty, and the importance of getting this right, there is a strong case for taking a bit longer.”
He added that Britain needs “good decisions which have more chance of standing the test of time, rather than going ahead with a major fiscal event only a few days into the new PM’s tenure”