UK's PM Cameron keeps Osborne as finance minister

[LONDON] British Prime Minister David Cameron said on Friday he would keep George Osborne as finance minister in his new government after convincingly winning the country's national elections.

Osborne served as Cameron's finance minister throughout his first five-year term. During that time, he oversaw a recovery of the country's economy from the financial crisis, an improvement which was initially slow but gained speed in 2013 and 2014.

At the same time, Osborne halved Britain's large budget deficit but missed his target to eliminate it altogether.

Cameron also named Osborne as first secretary of state.

Further cabinet appointments are expected on Friday.

REUTERS