Boris Johnson’s new cabinet will meet for the first time later, following a reshuffle that saw Sajid Javid quit his role as chancellor.
The prime minister had offered to reappoint Mr Javid on the condition he fire his team of aides – a demand rejected by Mr Javid on Thursday.
Rishi Sunak, former chief secretary to the Treasury, said he had “lots to get on with” after replacing Mr Javid.
Andrea Leadsom and Esther McVey are among others no longer in government.
Both women, along with Mr Javid, had been among the contenders in the Conservative leadership contest last July that was won by Mr Johnson.
Mr Javid, who had been due to deliver his first Budget in March, said he was left with “no option” but to resign because “no self-respecting minister” could accept the prime minister’s demands.
His departure from the cabinet follows rumours of tension between Mr Javid and the prime minister’s senior adviser, Dominic Cummings.
In his resignation letter, Mr Javid said: “I believe it is important as leaders to have trusted teams that reflect the character and integrity that you would wish to be associated with.”
Downing Street said there would now be a joint team of economic advisers for both the chancellor and prime minister.
Losing a chancellor is no small event, and it wasn’t what Boris Johnson set out to do.
But yesterday shows that No 10’s priority was political control rather than keeping personnel they valued. When Mr Javid refused, they chose instead to see him leave.
This begs a wider question – is it stronger to share power or hoard it?
Boris Johnson and his team have made the choice to do the latter – to lose a chancellor rather than allow a rival faction offering different political advice to the next door neighbour.
A Downing Street spokesman would not confirm whether or not the Budget scheduled for 11 March would go ahead as planned.
“Extensive preparations have already been carried out for the Budget and they will continue at pace,” he said.
Cabinet members remaining in place include Home Secretary Priti Patel; Foreign Secretary Dominic Raab; Cabinet Office minister Michael Gove; Health Secretary Matt Hancock; International Trade Secretary Liz Truss; Transport Secretary Grant Shapps; Defence Secretary Ben Wallace; Leader of the House Jacob Rees-Mogg; and Chief Whip Mark Spencer.
Those without a government role after the reshuffle include former Business Secretary Andrea Leadsom, former Housing Minister Esther McVey, former Environment Secretary Theresa Villiers and former Attorney General Geoffrey Cox.
Julian Smith was also sacked as Northern Ireland Secretary – weeks after he brokered the deal that restored the power-sharing administration in Stormont.
BBC News NI political reporter Jayne McCormack said the decision would be “hugely unpopular” in both Belfast and Dublin.
Newcomers at the cabinet meeting on Friday will include Anne-Marie Trevelyan, who replaces Alok Sharma as international development secretary; Amanda Milling, who is minister without portfolio and chairwoman of the Conservative Party; and Suella Braverman, who takes on the role of attorney general after the prime minister asked Mr Cox to step down.