UK Finance Minister Kwasi Kwarteng sacked
Kwarteng returned to London early on Friday, cutting short a trip to Washington amid reports the government was planning to U-turn on tax cuts announced in a mini-budget announced by Kwarteng last month.
Britain`s Finance Minister Kwasi Kwarteng has been sacked after less than six weeks in the job, the BBC reported on Friday (October 14), as the government`s massive tax cuts sparked financial market turmoil.
Kwarteng is no longer chancellor of the exchequer, the BBC said. The Times newspaper reported earlier that Kwarteng was expected to be sacked.
His sacking makes Kwarteng Britain`s shortest serving chancellor since 1970, and his successor would be the UK`s fourth finance minister in as many months as the nation grapples with a cost-of-living crisis.
Kwarteng returned to London early on Friday, cutting short a trip to Washington amid reports the government was planning to U-turn on tax cuts announced in a "mini-budget" announced by Kwarteng last month.
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