UK Treasury Chief Kwasi Kwarteng Sacked After Tax Cut Fiasco, Say Reports
The BBC and Sky News reported Kwarteng's departure on Friday. It comes after a month in the job - and three weeks after he announced a tax-cutting “mini budget” that sent the pound plunging to record lows against the dollar. On Thursday Kwarteng denied he was about to lose his job, saying “I'm not going anywhere.”
London, October 14: British media say Treasury chief Kwasi Kwarteng has left the government, ahead of an announcement by Prime Minister Liz Truss on changes to an economic package that sparked market turmoil. US Shooting: 5 Including Police Officer Killed In North Carolina’s Raleigh After Gunman Opens Fire.
The BBC and Sky News reported Kwarteng's departure on Friday. It comes after a month in the job - and three weeks after he announced a tax-cutting “mini budget” that sent the pound plunging to record lows against the dollar. On Thursday Kwarteng denied he was about to lose his job, saying “I'm not going anywhere.” US President Joe Biden Pays Nearly Four Times More For Tacos At Los Angeles Restaurant | Watch Video.
Truss is due to hold a news conference later Friday. She is under intense pressure to scrap some of the 43 billion pounds ($48 billion) in unfunded tax cuts that roiled financial markets and led the Bank of England to step in to prevent a wider economic crisis.
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