Below is Rishi Sunak’s letter to Boris Johnson, explaining why he is quitting as Chancellor.
Dear Prime Minister,
It is with deep sadness that I am writing to you to resign from the Government.
It has been an enormous privilege to serve our country as Chancellor of the Exchequer and I will always be proud of how during the pandemic we protected people’s jobs and businesses through actions such as furlough.
To leave ministerial office is a serious matter at any time. For me to step down as Chancellor while the world is suffering the economic consequences of the pandemic, the war in Ukraine and other serious challenges is a decision that I have not taken lightly.
However, the public rightly expects government to be conducted properly, competently and seriously. I recognise this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning.
I have been loyal to you. I backed you to become Leader of our Party and encouraged others to do so. I have served as your Chancellor with gratitude that you entrusted me with stewardship of the nation’s economy and finances. Above all, I have respected the powerful mandate given to you by the British people in 2019 and how under your leadership we broke the Brexit deadlock.
That is why I have always tried to compromise in order to deliver the things you want to achieve. On those occasions where I disagreed with you privately, I have supported you publicly. That is the nature of the collective government upon which our system relies and it is particularly important that the Prime Minister and Chancellor remain united in hard times such as those we are experiencing today.
Our country is facing immense challenges. We both want a low-tax, high-growth economy, and world class public services, but this can only be responsibly delivered if we are prepared to work hard, make sacrifices and take difficult decisions.
I firmly believe the public are ready to hear that truth. Our people know that if something is too good to be true then it’s not true. They need to know that whilst there is a path to a better future, it is not an easy one. In preparation for our proposed joint speech on the economy next week, it has become clear to me that our approaches are fundamentally too different.
I am sad to be leaving Government but I have reluctantly come to the conclusion that we cannot continue like this.
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