Rishi Sunak resigned as Chancellor of the Exchequer on Tuesday, pointing to a number of allegations against the Boris Johnson-led government.
“The public rightly expect the government to be conducted properly, competently and seriously,” Sunak said in a resignation letter posted on Twitter. Prime Minister Boris Johnson has recently faced calls to resign after he admitted he had ignored misconduct allegations when he appointed Chris Pincher as deputy chief whip, and his staff was accused of hosting illegal parties during covid lockdown known as the partygate scandal.
Resigning on Tuesday along with Sunak was health minister Sajid Javid.
Sunak just one month ago had been strong in his support of Johnson as the prime minister barely survived a no-confidence vote by his party.
Sunak this afternoon: “I recognize this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning.”
The now-former finance minister had hopes to make the U.K. a crypto hub, and was responsible for a slew of Treasury plans in April to push forward those ambitions.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.