Liz Truss sacks Chancellor Kwasi Kwarteng

38 days after taking the post

Prime Minister Liz Truss has sacked Chancellor Kwasi Kwarteng only 38 days after he assumed the position, the BBC has reported.

His removal just weeks into the job makes him the second shortest-serving UK chancellor on record. The shortest serving chancellor, Iain Macleod, died of a heart attack 30 days after taking the job in 1970. In a letter published by Kwarteng addressed to the prime minister, he wrote: "The economic development has changed rapidly since we set out the Growth Plan on 23 September. In response, together with the Bank of England and excellent officials at the Treasury we have responded to those events." "It is important now as we move forward to emphasise your government's commitment to fis...