Kwasi Kwarteng has been fired as chancellor, just weeks after announcing unfunded tax cuts that caused financial chaos.
Kwarteng had earlier met Prime Minister Liz Truss at Downing Street after cutting short a trip to the United States and flying back to London.
Former health secretary Jeremy Hunt has been named as his successor.
Kwarteng backs Truss’s economic “vision” for the county in a letter confirming his dismissal and says he will continue to support her from the backbenches.
Truss will hold a press conference at 14:30 p.m., as speculation grows that the government may reverse more of the tax cuts announced in the mini-budget.
Source: www.ghgossip.com
