Kwasi Quarting has already been sacked as the UK’s finance minister, according to the BBC.
The newspaper raised the possibility of Quarting’s resignation The Times this morning and it has now been confirmed. The minister’s departure comes hours before a conference with Prime Minister Liz Truss, where he is expected to announce the scrapping of parts of her controversial mini-budget.
Quarting is the second shortest-running chancellor in UK history, after Ian MacLeod, who died of a heart attack 30 days after taking office in 1970.
– Kwasi Kwarteng (@KwasiKwarteng) 14 October 2022
Kwarteng was appointed on September 6 after Liz Truss became Prime Minister, after spending 38 days in office.
On Thursday, the minister told reporters in Washington that he was “not going anywhere”, despite numerous calls to resign after the introduction of the mini-budget, which is based largely on tax cuts for the wealthy, which sent the pound to a historic low. its lowest level.
At this afternoon’s press conference, Liz Truss is expected to announce a 25% increase in corporate tax.
The Prime Minister had promised to cancel the increase in the tax from 19% to 25%, the increase of which was announced in April next year by former Minister Rishi Sunak. Now, everything indicates that the ascent will occur as planned.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
