JEREMY Hunt yesterday staged a stunning Cabinet comeback as battered Liz Truss turned to him to be Britain’s new Chancellor.
After three years on the backbenches, the twice-failed candidate to be PM was given the second-most powerful job in Government.
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As the fourth Chancellor in as many months, it now falls to him to steer the country through the most economically turbulent period in post-war history.
Last night the wobbling PM praised her new hire as a safe pair of hands and “one of the most experienced and widely respected government ministers and parliamentarians”.
It was a glaring change of heart for the besieged Ms Truss, now forced to gamble on Mr Hunt to stop her fledgling premiership imploding.
Mr Hunt will be the most senior supporter of Rishi Sunak in government — in a major sop to the PM’s Tory rivals.
Unashamed in his centrist views — and without enough allies to even make the leadership ballot this time around — the devout Remainer was a shock hire in the fall out of Kwasi Kwarteng’s sacking.
Yet in the space of hours, his political black mark turned into a spectacular advantage as Mr Hunt became the ideal peace offering to restless rebels.
Mutinous Tory MP Sir Roger Gale was quick to welcome Mr Hunt — a self-made businessman — as an “experienced pair of hands on the financial tiller”.
Supporters also point to his impressive CV, now holding three Cabinet jobs under three different PMs.
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Battle-hardened from stints as Culture Secretary, the longest ever Health Secretary, and Foreign Secretary, Ms Truss’s allies hope he will help the Government establish credibility.
MP and long-time friend Steve Brine said Mr Hunt would manage the Government like a “chief executive” to Ms Truss’s “chairmanship”.
The new Chancellor is seen to have developed nerves of steel when he refused to buckle during his memorable clash with junior doctors.
But far from being a silver bullet to solve her political problems, Ms Truss is taking a chance that Mr Hunt is not the political bomb that will detonate her administration.
Brexiteer Tories last night reacted with fury that another Remainer had been brought into the top of government.
And it was not clear how Ms Truss and Mr Hunt will manage their clear differences.
When he fought Boris for the Tory crown, Mr Hunt wanted to cut corporation tax to 15 per cent — but one of his first acts will be to grit his teeth and raise it to 25 per cent next April.
A former chair of the powerful Health Committee, he also wanted to keep the National Insurance rise which has now been formally ditched.
He has also repeatedly called for safer, legal migration routes to combat small boat crossings.
Installing a Chancellor so distinct from “Trussonomics” is a high-risk strategy for the PM.
Her administration may not survive many more knocks and, if Mr Hunt walks, it may bring it all crashing down.
And twice beaten for the top job, it will not be lost on the new Chancellor that he would be in poll position to take over.
NIGE TO RETURN?
NIGEL Farage hinted at a comeback to frontline politics last night as he vented his fury at two “Remain supporters” in Downing St.
The Brexiteer said the Tories now deserved to be “killed” hitting out at Liz Truss and new Chancellor Jeremy Hunt — who both wanted to stay in the EU prior to the Brexit vote.
He spoke out as the Prime Minister ripped up her mini-Budget corporation tax pledge, a key plank of her leadership bid.
He said: “Remainer Jeremy Hunt is the new Chancellor, joining forces with our Remainer PM. This party needs replacing.”
