British PM Liz Truss sacks Finance Minister Kwasi Kwarteng, Jeremy Hunt appointed new Treasury chief
British Prime Minister Liz Truss sacked Finance Minister Quasi Quarteng on October 14, 2022, ahead of the announcement of the economic package.
In his place, former cabinet minister Jeremy Hunt has been appointed finance minister.
For the past several days, there was a demand to remove Quarteng from this post, he remained in this post for about a month.
Tax cuts were announced during his tenure, this caused a sharp drop in the pound's exchange rate.
Recently, the Mini Budget of the Liz Truss government was presented, which proved to be a failure in controlling inflation in the country.
After this, MPs gave an ultimatum to Truss that if Finance Minister Kwasi Quarteng is not removed, he may face a rebellion.
Quasi became the shortest-serving chancellor in Britain since 1970, a position he held for just 38 days.
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