• PM announces Chancellor George Osborne will remain in the Treasury
  • Mr Osborne was also given the title of ‘First Secretary of State’ by the PM
  • Home Secretary Theresa May stays in position to complete police reforms
  • Foreign Secretary Philip Hammond given job of leading EU renegotiation
  • FINAL RESULT: Tories 331 (up 25), Labour 232 (down 24), SNP 56 (up 50), Lib Dems 8 (down 48), Ukip 1 (down 1) 

David Cameron rounded off a day of high political drama this afternoon by naming his Cabinet top team to eliminate the deficit and renegotiate Britain’s place in Europe.

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.

Mr Osborne was also given the title ‘First Secretary of State’ – making him the most senior member of the Cabinet other than the Prime Minister.

The Home Secretary Theresa May, Foreign Secretary Philip Hammond and Defence Secretary Michael Fallon were all kept in place by the Prime Minister.

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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 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

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

It means, alongside the Prime Minister, Mr Hammond and the Chancellor are likely to spearhead the government’s bid to overhaul Britain’s relationship with Brussels before an in-out referendum in 2017.

The Prime Minister is expected to reshuffle the rest of his ministerial team over the weekend, with announcements.

Mr Cameron has around 24 extra ministerial positions to fill because he is no longer reliant on the Lib Dems.

It comes after Mr Cameron won a shock election victory, routing the Labour Party and Lib Dems.

CAMERON’S CABINET TOP TEAM

George Osborne

Theresa May

Philip Hammond

Michael Fallon

Continues as Chancellor and named First Secretary of State

Home Secretary

Foreign Secretary

Defence Secretary

The Tories won 331 seats, almost 100 seats ahead of Labour – which lost 24 seats, finishing on 232. The SNP meanwhile jumped to 56 seats, while the Lib Dems were crushed – finishing on just eight seats.

Following the victory, Mr Cameron set out how he will use his shock outright Tory majority to ensure the ‘good life is in reach for everyone who’s willing to work and do the right thing’.

The Prime Minister used a statement outside Number 10 to pay tribute to both Labour’s Ed Miliband and his former Lib Dem deputy Nick Clegg who have both resigned after suffering heavy losses in one of the most unpredictable election results for a generation.

The three political leaders then emerged, barley an hour later, to stand side by side at the Cenotaph to commemorate the 70th anniversary of VE Day.

Daily Mail republished by Evan Marara