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Treasury Financial Secretary John Glen MP has develop into the newest authorities minister to resign.
Mr Glen has been one of many key figures in monetary regulation on the Treasury.
He has been on the Treasury since January 2018 and has served below three Chancellors however has determined to not proceed serving below the brand new Chancellor Nadim Zahawi, who has changed Rishi Sunak.
Mr Glen printed his resignation letter this morning.
In his letter to Prime Minister Boris Johnson he wrote: “After a lot thought and with deep remorse I need to inform you that I’ve made the tough choice to resign from the federal government.
“It has been an amazing privilege to function Financial Secretary to the Treasury below three Chancellors however I can now not reconcile my dedication to the position and to the monetary companies sector with the whole insecurity I’ve in your persevering with management of our nation.
“After we met earlier this yr you requested me to commit to hold on working to ship important reforms for our world main monetary companies.
“These reforms at the moment are able to be offered to parliament they usually signify a basic reset of the regulatory framework for the trade and customers.”
Mr Glen has been closely concerned in serving to to form monetary regulation within the UK and has additionally been a first-rate mover of Treasury initiatives such because the Ladies in Finance marketing campaign.
Mr Glen is one among 17 authorities ministers and figures who’ve to this point resigned over the previous 24 hours. Chancellor Rishi Sunak and Well being Secretary Sajid Javid resigned yesterday.
It isn’t but recognized who will exchange Mr Glen. Please test again right here for updates.
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