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Sunday, March 03 2024

London: UK Chancellor of Exchequer Kwasi Kwarteng sacked

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London: UK’s Chancellor Kwasi Kwarteng was on Friday removed from his post by Prime Minister Liz Truss, following their differences over last month’s ‘mini’ budget.

Kwarteng, who cut short his visit to Washington for the IMF meet to return to London as differences came up the mini budget provisions, reached 10 Downing Street to meet Truss, before the announcement of his removal,

Kwarteng, who had thrown his hat in the fray for the leadership of the Conservative Party after Boris Johnson stepped down before backing Truss, was appointed to the key post by her but did not hold it for even 40 days.

This makes him the second shortest-serving UK Chancellor after Iain Macleod, who died of a heart attack 30 days after taking the job in 1970, the BBC said.

Since 2019, the UK has had four chancellors, including Rishi Sunak, who quit and contested for the leadership of the Conservative Party, but lost to Truss last month, Nadhim Zahawi who served the third shortest tenure of 63 days under Johnson, and Sajid Javid who served 204 days – the fourth shortest tenure since the Second World War.

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