Nadhim Zahawi, the Chancellor of the Exchequer, has announced his resignation amid controversies over his tax affairs. Zahawi was investigated for his financial dealings and was found to owe a significant amount to HMRC, resulting in a £5 million penalty. He attempted to suppress media coverage of the investigation by threatening legal action against publications like The Independent. His resignation marks a significant fall from grace, which has been a subject of intense media scrutiny and public debate.