Kwasi Kwarteng has reportedly been sacked as Chancellor as the fall-out from last month's mini-budget continues.
Kwasi Kwarteng arrives in Downing Street, London, after returning from the US ahead of schedule for urgent talks with Prime Minister Liz Truss. Photo: Stefan Rousseau/PA Wire
The BBC is reporting that the Tory MP has been axed from No 11 Downing Street, hours after he returned to London early from a visit to the International Monetary Fund's annual meeting in Washington.Mr Kwarteng's dismissal and a widely expected U-turn on scrapping the corporation tax rise would be part of an effort to reassure markets after the mini-budget turmoil, according to The Times.
Since 2019, the UK has had four chancellors, including Nadhim Zahawi who served the third shortest tenure with 62 days during a short-lived reshuffle under Boris Johnson, and Sajid Javid who served 204 days - the fourth shortest tenure on record.
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