After less than six weeks on the job, Britain’s finance minister Kwasi Kwarteng was fired, according to a report from the BBC, after the government’s large tax cuts provoked chaos on the financial markets.
According to the BBC, Kwarteng is no longer chancellor of the exchequer. Kwarteng was anticipated to be fired, according to an earlier report in The Times.
As the country struggles with a cost-of-living crisis, Kwarteng’s dismissal makes him the British chancellor with the shortest tenure since 1970. His successor would be the UK’s fourth finance minister in as many months.
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