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14th Oct 2022

Chancellor Kwasi Kwarteng sacked by Liz Truss

Ava Evans

David Blaine spent more days hoisted above the Thames in a glass box, than Kwarteng managed as Chancellor.

Freshly appointed Kwasi Kwarteng has been sacked as Chancellor, a mere thirty-eight days into the job.

It’s understood Prime Minister Liz Truss cowed to enormous public pressure after her government unveiled a massive package of unfunded tax cuts last month.

Truss is now preparing to announce that she is ripping up her mini-Budget, which sparked market turmoil three weeks ago and stoked investors’ fears about the long-term sustainability of the government’s skyrocketing national debt.

The prime minister has already backtracked on scrapping the 45 percent tax bracket for the country’s highest-income earners after widespread public outrage.

Treasury sources understand Kwarteng could be replaced by former Chancellors Nadhim Zahawi or Sajid Javid by the end of the day.

Yet according to Tom Newton Dunn, the executive editor of Talk TV’s First Edition programme, former Health Secretary Jeremy Hunt could be in the running.

Earlier on Friday, Kwasi Kwarteng was seen leaving Heathrow Airport having arrived by plane from Washington DC.

Kwarteng departed Terminal Five of the airport in a silver Land Rover Discovery, having made an early exit from a meeting of the International Monetary Fund in the States.

This is a breaking story and will be updated…