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| Image: The Lens News |
Following the economic woes the United Kingdom is facing, which has been described as the worst in decades, Britain’s finance minister Kwasi Kwarteng has been sacked less than six weeks after his appointment.
Mr. Kwarteng will now go down in history as Britain’s shortest-serving chancellor since 1970. Also, his successor would be the UK’s fourth finance minister in as many months as the nation grapples with a cost-of-living crisis.
According to the BBC, former Health Secretary Jeremy Hunt, who backed Rishi Sunak in the Tory leadership contest, has been appointed by Prime Minister Liz Truss as the new chancellor.
Liz Truss also scrapped parts of her government’s economic package to survive the market and the country’s political turmoil.
“We’ve been colleagues and friends for many years. In that time, I have seen your dedication and determination. I believe your vision is the right one. It has been an honour to serve as your first chancellor,” Mr. Kwarteng said in a letter to the Prime Minister.
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| Image: BBC |
Ms. Truss has also asked Chris Philip to move to the Cabinet Office, and Edward Argar will replace him as chief secretary to the Treasury.
Ms. Truss has come under pressure to drop parts of her economic plan to calm market turbulence and reassure her party. Tory MPs have discussed whether to remove Ms. Truss as prime minister.
Source: gazettengr.com
#Kwasi Kwarteng
#UK Finance Minister
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