Few envy Jeremy Hunt in his new role as the UK's Finance Minister. The former foreign and health secretary replaces the recently ousted Kwasi Kwarteng and inherits a struggling economy and litany of recent political and financial disasters.

Hunt is no stranger to the business of government and is considered a "safe pair of hands" by many of his political peers. Hitting the ground running on day one in his new job, he made it clear to the country that he is ready to right the wrongs made in Kwarteng's now infamous "mini budget."

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"It was a mistake to cut the top rate of tax at a period when we are asking everyone to make sacrifices and it was a mistake to fly blind and not to back up the economic plans that were announced with an independent forecast from the Office for Budget Responsibility," he said.

'Difficult decisions' ahead

He also used his first interview as Finance Minister to warn that 'difficult decisions" lie ahead and some taxes will go up. Much of the drama that has unfolded on the international financial markets since the government's mini budget was announced on September 23, is to do with the vast swathes of unfunded tax cuts in it.

In a massive U-turn on policy, Prime Minister Liz Truss now says the cut in corporation tax will not go ahead and in fact the planned rise from under Boris Johnson's government will in fact go ahead.

In her speech after dismissing Kwarteng, the prime minister remained resilient and promised to stay the course and bring economic stability to the country. So far her speech, Kwasi Kwarteng's sacking and Jeremy Hunt's appointment have done little to convince the British public that the prime minister should or will hold on to her job.

On the streets of Westminster, 34-year-old Andrew Jones echoed the sentiment of many others, "It's not a surprise that he's gone," he said. "Shouldn't it happen to Liz Truss as well? She definitely signed off on these things. So it's puzzling that she's able to stay in post," added Jones.

Truss faces revolt from within her own Conservative party, but also the opposition. Labour leader Keir Starmer accused the prime minister of "clinging on" and causing "grotesque chaos" in the economy.

As politicians in Westminster and the UK public weigh up the country's future leadership, one thing is clear - whoever is at the helm needs to act fast to shore up the economy in the face of soaring inflation, crippling energy prices and a winter of more public sector strike action to come.