With Kwarteng out, the hope is a steady Hunt can calm the jittery markets

JEREMY Hunt, the man who last week was thrust in the limelight as the UK’s new Chancellor of the Exchequer after the shock sacking of Kwasi Kwarteng, is effectively playing the role of CEO in the UK government, with Prime Minister Liz Truss as the Cabinet chairman without a mandate.

The 56-year-old former health secretary and foreign secretary is also widely seen as someone who has aspirations to one day take over the top job from Truss. Indeed, he has attempted twice to become the Conservative party leader, being unsuccessful each time.

Now that he is the finance secretary, Tory MPs are hoping that Hunt will be able to calm the increasingly jittery markets in the coming days. He takes over at a difficult time for Truss, whose premiership is “hanging by a thread”, according to former Tory leader William Hague. Last Friday, Truss said she was “determined” to stay on, even though her policy U-turns during her short time in office have severely damaged her credibility.