Chancellor Kwasi Kwarteng sacked by Liz Truss after 38 days

Jeremy Hunt appointed as Kwarteng's replacement

Valeria Martinez
clock • 1 min read

Prime Minister Liz Truss has sacked chancellor Kwasi Kwarteng only 38 days after he assumed the position.

The news comes as Truss is set to announce yet another U-turn to Kwarteng's Mini Budget at 2pm today (14 October), according to multiple reports. The chancellor left the International Monetary Fund annual meetings early to return to the UK this morning.  The UK government is now poised to scrap plans to cut the corporation tax introduced in the Mini Budget. In his first parliamentary statement as chancellor last month, Kwarteng had pledged to scrap a corporation tax hike from 19% to 25% which had been scheduled for April next year by former chancellor Rishi Sunak.  The corporation tax...

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