Author: News Desk

  Kwasi Kwarteng was axed as Chancellor just 38 days after entering Number 11 amid economic turmoil following his mini-budget announcement which also resulted in a collapse in support for the Conservative Party in the opinion polls. ​Kwasi Kwarteng was axed as Chancellor just 38 days after entering Number 11 amid economic turmoil following his mini-budget announcement which also resulted in a collapse in support for the Conservative Party in the opinion polls. 

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PM makes second climbdown and sacks chancellor after package of unfunded tax cuts sent the pound tumbling Today’s political news – live updates Liz Truss has performed a humiliating U-turn over her flagship plan to cut corporation tax, as she grimly insisted she would hang on as prime minister despite being forced to sack her chancellor, Kwasi Kwarteng, over the government’s disastrous mini-budget. At a hastily called and notably brief Downing Street press conference, soon after she replaced Kwarteng with Jeremy Hunt, a notably subdued-looking Truss told reporters that parts of the mini-budget “went further and faster than markets were…

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LIVE – Jeremy Hunt appointed Chancellor after Kwarteng sacked Jeremy Hunt has been appointed the new Chancellor following the sacking of Kwasi Kwarteng. During the leadership contest over the summer, Hunt put himself forward to be the next Tory leader but after not gaining enough support from fellow MPs he supported Rishi Sunak’s bid. Hunt will be the fourth chancellor this year.

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