The immediate effects on travel include a new transport secretary and an upturn in the pound’s fortunes. There are also hints that Monday’s fiscal statement may be delayed a few days.

Here is the news affecting the travel industry on Wednesday 26 October.

Sunak appoints new transport secretary

Mark Harper has been appointed transport secretary in the new Cabinet. He is a former chief whip and in 2012 was appointed immigration minister but resigned from the post two years later after it was revealed his cleaner did not have permission to work in the UK. (BBC)

Monday’s fiscal statement ‘could be delayed’

Rishi Sunak is considering delaying Monday’s fiscal statement. The statement could be pushed back a couple of days so it is presented before November 3, when the Bank of England is set to announce further interest rate hikes. Sunak is expected to meet chancellor Jeremy Hunt today to discuss plans to increase taxes and squeeze public spending. (The Telegraph)

Pound hits a six-week high as Sunak takes office

The pound hit a six-week high as Rishi Sunak became prime minister. Sterling was up 1.8% against the dollar at $1.147, having risen by 1.92% to $1.150 earlier in the day – the highest level since 15 September. (Sky News)

Grand Canyon rescue after lift breaks

Five people had to be hoisted to safety after an elevator at the Grand Canyon Caverns broke down around 210ft (64m) underground. They were stuck for between 24 and 30 hours after taking a 30-minute tour. (Sky News)