This is Danny Finkelstein’s conclusion in his Times column today:
“……. if the way No 10 intends to bring the chancellor and prime minister together is by taking over No 11, this is unlikely to work. Even if the new chancellor does not have his own special advisers, he will have his own department, his own departmental position, his own department’s interests and his own status. Over the centuries, the Treasury has shown repeatedly that it is not easily brought to heel.“
I’m sure Danny’s right. Sacking your chancellor for whatever reason generally ends badly. I’m old enough to remember what happened to Mrs. Thatcher after Nigel Lawson left.