UK Finance Minister Rishi Sunak resigns in serious blow to Boris Johnson's leadership

LONDON — British Chancellor Rishi Sunak resigned Tuesday, saying the government should be run "properly, competently and seriously."

Health Secretary Sajid Javid also handed in his resignation in what appears to be a protest against Prime Minister Boris Johnson's leadership.

The British pound hit a fresh March 2020 low after the announcements. The currency was down 1.5% for the session, hitting 1.1923 against the dollar.

"The public rightly expect government to be conducted properly, competently and seriously," Sunak wrote in a tweet Tuesday evening.

"I recognise this may be my last ministerial job, but I believe these standards are worth fighting for and that is why I am resigning."

In a letter to the prime minister, Sunak added: "I am sad to be leaving government but I have reluctantly come to the conclusion that we cannot continue like this."

It comes after a string of scandals that have plagued Johnson's leadership over the last few months.

The prime minister narrowly survived a vote of confidence — triggered by his own lawmakers — last month. But dissatisfaction with his leadership, both within his own Conservative party and beyond, has continued.

This is a breaking news story and will be updated shortly.