Kwasi Kwarteng sacked as chancellor after mini-budget turmoil

From news.sky.com

Kwasi Kwarteng has been sacked as chancellor three weeks after his mini-budget unleashed chaos in the economy. He was appointed to the role by Liz Truss only 38 days ago, making him the second-shortest serving chancellor after Iain Macleod, who died a month after being handed the job by Edward Heath.Mr Kwarteng's downfall was set in motion by the mini-budget on 23 September, in which he announced £45bn in unfunded tax cuts. The mini-budget pushed the pound to a record low against the dollar, sent the cost of government borrowing and mortgage rates up and led to an unprecedented intervention by the Bank of England. ... (full story)