Jeremy Hunt is fourth Chancellor in just over three months

Such a rapid turnover is unprecedented in modern history.

Jeremy Hunt pictured during the Conservative Party leadership campaign in 2019 (Kirsty O’Connor/PA) (PA Archive)

Jeremy Hunt is the UK’s fourth Chancellor of the Exchequer in just over three months, and the fifth person to hold the role in three years.

He replaces Kwasi Kwarteng, who was chancellor for just 38 days.

Mr Kwarteng was preceded by Nadhim Zahawi, who had the job for 63 days and who had taken over from Rishi Sunak in July.

Mr Sunak was appointed chancellor in February 2020 and served for 873 days before resigning.

He had taken over from Sajid Javid, who had resigned from the role after just 204 days.

Such a rapid turnover of chancellors is unprecedented in modern history.

It is necessary to go back almost 100 years to find a period of similar upheaval.

Between 1921 and 1924 the UK had a total of six chancellors: Austen Chamberlain, whose tenure ended in April 1921; then Robert Horne (April 1921 to October 1922), Stanley Baldwin (October 1922 to August 1923), Neville Chamberlain (August 1923 to January 1924), Philip Snowden (January to November 1924), and Winston Churchill, who took up the job in November 1924.

The recent turnover of chancellors comes after a period which typically saw one person hold the role for several years.

Just four people served as chancellor in the 22 years between 1997 and 2019: Gordon Brown, Alistair Darling, George Osborne and Philip Hammond.

This compares with the five chancellors the UK has now had since 2019.