Britain's former Prime Minister, David Cameron, resigned from his position, saying the shadow foreign secretary would need to be in the House of Commons. Getty Images
Britain's former Prime Minister, David Cameron, resigned from his position, saying the shadow foreign secretary would need to be in the House of Commons. Getty Images
Britain's former Prime Minister, David Cameron, resigned from his position, saying the shadow foreign secretary would need to be in the House of Commons. Getty Images
Britain's former Prime Minister, David Cameron, resigned from his position, saying the shadow foreign secretary would need to be in the House of Commons. Getty Images

Rishi Sunak remains Tory leader and David Cameron resigns in shadow cabinet shake-up


Soraya Ebrahimi
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After suffering a loss of 251 MPs in last week’s general election, the Conservative Party has named its opposition front bench to lead them into the new Parliament.

Former Foreign Secretary David Cameron and party chairman Richard Holden offered their resignations, which Rishi Sunak accepted, the party said.

The Tories came to power 14 years ago under Mr Cameron, securing 306 seats in the 2010 election and a coalition with the 57-strong Liberal Democrats.

On his departure, Mr Cameron wrote on X: “It’s been a huge honour to serve as Foreign Secretary, but clearly the Conservative Party in opposition will need to shadow the new Foreign Secretary from the Commons.

“So I told Rishi Sunak that I would step back. I’m delighted that the shadow foreign secretary role has gone to my good friend Andrew Mitchell.

“As a committed Conservative, I will continue to support the party and help where I can as we rebuild from the very disappointing election result.”

New shadow foreign secretary Mr Mitchell is Mr Cameron's former deputy foreign secretary. Richard Fuller, who represents North Bedfordshire, has been named party chairman.

“United as a party we will be ready and able to hold this new Labour government to account every step of the way,” Mr Fuller said.

“The Conservative Party has had a difficult election and it is important that we regroup and reflect on these results.

“We should also challenge ourselves candidly and deeply on the strengths of the Conservative Party across the country and outline where improvements can be made.

“I am honoured to be asked to act as interim chairman of the Conservative Party and to be working alongside colleagues in the shadow cabinet.”

Rishi Sunak's final hours as prime minister – in pictures

  • Outgoing Prime Minister Rishi Sunak speaks outside 10 Downing Street following Labour's landslide election victory. Getty Images
    Outgoing Prime Minister Rishi Sunak speaks outside 10 Downing Street following Labour's landslide election victory. Getty Images
  • Mr Sunak and his wife, Akshata Murty, are applauded as they leave 10 Downing Street. Photo: No 10 Downing Street
    Mr Sunak and his wife, Akshata Murty, are applauded as they leave 10 Downing Street. Photo: No 10 Downing Street
  • The couple step out into Downing Street. AP
    The couple step out into Downing Street. AP
  • Members of the media crowd the street as Mr Sunak makes his speech. AFP
    Members of the media crowd the street as Mr Sunak makes his speech. AFP
  • Mr Sunak and Ms Murty hold hands as they leave Downing Street. Reuters
    Mr Sunak and Ms Murty hold hands as they leave Downing Street. Reuters
  • Mr Sunak leaves Conservative headquarters in London after the party's general election defeat. Bloomberg
    Mr Sunak leaves Conservative headquarters in London after the party's general election defeat. Bloomberg
  • A demonstrator holds up a sign reading 'Bye bye Tories!' near the Houses of Parliament in London. Bloomberg
    A demonstrator holds up a sign reading 'Bye bye Tories!' near the Houses of Parliament in London. Bloomberg
  • Independent candidate Niko Omilana holds up an 'L' sign, for loser, behind Mr Sunak as he takes responsibility for his party's election defeat during his speech after winning the Richmond and Northallerton constituency in Yorkshire. Reuters
    Independent candidate Niko Omilana holds up an 'L' sign, for loser, behind Mr Sunak as he takes responsibility for his party's election defeat during his speech after winning the Richmond and Northallerton constituency in Yorkshire. Reuters
  • Candidate Count Binface, right, watches as Mr Sunak speaks in Northallerton. AFP
    Candidate Count Binface, right, watches as Mr Sunak speaks in Northallerton. AFP
  • Mr Sunak during the count for Richmond and Northallerton. PA
    Mr Sunak during the count for Richmond and Northallerton. PA
  • Mr Sunak arrives for the count and declaration in Northallerton. Getty Images
    Mr Sunak arrives for the count and declaration in Northallerton. Getty Images

Several senior Tories lost their seats in last week’s poll.

Among them were former defence secretary Grant Shapps and former Commons leader Penny Mordaunt, who lost their seats to Labour candidates in Welwyn Hatfield and Portsmouth North.

Ex-education secretary Gillian Keegan and former justice secretary Alex Chalk also lost their seats in Chichester and Cheltenham to the Liberal Democrats.

Mr Sunak, as Conservative Party leader and interim opposition chief whip Stuart Andrew, a former sports and gambling minister, appointed their Tories' new top team.

Conservative Party big hitters who have lost their seats – in pictures

  • Liz Truss, who served as prime minister for 44 days in 2022 before she was removed, has now lost her seat in parliament. PA
    Liz Truss, who served as prime minister for 44 days in 2022 before she was removed, has now lost her seat in parliament. PA
  • Brexiteer Jacob Rees-Mogg has also been defeated. Getty Images
    Brexiteer Jacob Rees-Mogg has also been defeated. Getty Images
  • Culture Secretary Lucy Frazer also lost her seat. PA
    Culture Secretary Lucy Frazer also lost her seat. PA
  • Veterans Minister Johnny Mercer. AFP
    Veterans Minister Johnny Mercer. AFP
  • Defence Secretary Grant Shapps. AFP
    Defence Secretary Grant Shapps. AFP
  • Education Secretary Gillian Keegan. Reuters
    Education Secretary Gillian Keegan. Reuters
  • Penny Mordaunt delivers a speech after the declaration in Portsmouth. Getty Images
    Penny Mordaunt delivers a speech after the declaration in Portsmouth. Getty Images
  • Justice Secretary Alex Chalk. PA
    Justice Secretary Alex Chalk. PA
  • Minister for Science, Innovation and Technology Michelle Donelan. Getty Images
    Minister for Science, Innovation and Technology Michelle Donelan. Getty Images
  • Chief Whip Simon Hart. Getty Images
    Chief Whip Simon Hart. Getty Images

Among the line-up shadowing their former posts is Oliver Dowden, now as deputy leader of the opposition, Jeremy Hunt as shadow chancellor, James Cleverly as shadow home secretary, and Victoria Atkins as shadow health secretary.

Claire Coutinho has kept her portfolio, energy security and net zero, in opposition, as have Steve Barclay (environment, food and rural affairs) and Mel Stride (work and pensions).

Kemi Badenoch has taken on Michael Gove’s former levelling up, housing and communities brief.

Her former portfolios have gone to Kevin Hollinrake (business and trade) and Mims Davies (women and equalities).

The top team also includes James Cartlidge as shadow defence secretary, Ed Argar as shadow justice secretary, Andrew Griffith as shadow science innovation and technology minister, Chris Philp as shadow Commons leader, former schools minister Damian Hinds as shadow education secretary, Helen Whately as shadow transport secretary and Julia Lopez as shadow culture media and sport secretary.

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How will Gen Alpha invest?

Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.

“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.

Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.

He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.

Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”

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MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

Updated: July 09, 2024, 11:37 AM