David Cameron 'anoints' George Osborne as heir apparent: Victorious PM names his top team for a second term - and KEEPS his Chancellor and Home Secretary in position

George Osborne was effectively anointed as David Cameron's preferred successor yesterday, as the Prime Minister began his first reshuffle of an all-Tory government.

After five years of having to make Liberal Democrats ministers, Mr Cameron is said to be relishing the opportunity to build his own front-bench with a free hand.

Mr Osborne was ushered into Number Ten to be told he will remain at the Treasury, quashing speculation that he could move to the Foreign Office. 

In addition, he will become First Secretary – essentially making him Mr Cameron's deputy, who will stand in for him at Prime Minister's Questions whenever he is away. 

The Prime Minister announced that his long-serving Chancellor George Osborne would remain in the Treasury to see through the government's planned austerity drive

The Home Secretary Theresa May will also stay in position, the Prime Minister announced this evening