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Kwasi Kwarteng has been sacked as chancellor, just weeks after he announced unfunded tax cuts that triggered financial turmoil
It’s clear from Kwasi Kwarteng’s letter that it was the prime minister’s decision to get rid of him.
This wasn’t a mea culpa on his part; he was told to step down and did.
Do not underestimate how significant this. The Prime minister Liz Truss and Kwasi Kwarteng were billed as the closest of political allies when she won power.
His allies told me he saw his job as delivering her plans. They would, we were told, work in lockstep, free from the drama seen in previous PM-chancellor relationships.
Truss has made the calculation that to move on from the mini-budget she needed to get rid of her chancellor. But given how close the pair have been, that may be easier said than done.
Kwarteng confirms he was asked to ‘stand aside’
Kwasi Kwarteng – who is out of his job as the UK’s chancellor – has just confirmed that he was sacked by Prime Minister Liz Truss rather than choosing to leave.
He’s tweeted a letter confirming the news, saying he was “asked to stand aside”.
