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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Thailand’s 500 billion baht handout aims to boost overall economy, not geared to poor: official
German business sentiment rises in April: Ifo
Indonesia’s central bank delivers surprise rate rise to support rupiah
Prabowo’s aide says Indonesia doesn’t need another rate hike
German forecast to offer signs if ailing economy on the mend
PBOC steps up rhetoric against long-end government bond rally