Downing Street confirmed officially that Kwasi Kwarteng has been sacked PM Liz Truss as she throws her closest political friend under the bus to save her job and Jeremy Hunt has been made chancellor.
During the leadership contest over the summer, Hunt put himself forward to be the next Tory leader but after not gaining enough support from fellow MPs he supported Rishi Sunak's bid.
Hunt will be the fourth chancellor this year. Following 2 of his colleagues who have had 2 of the shortest reigns in the job.
During the leadership contest over the summer, Hunt put himself forward to be the next Tory leader but after not gaining enough support from fellow MPs he supported Rishi Sunak's bid.
Hunt will be the fourth chancellor this year. Following 2 of his colleagues who have had 2 of the shortest reigns in the job.
Jeremy Hunt is not going to restore confidence in a nation in a frantic search of fresh leaders for this nation. Rolling out a figures who have been round the block and didn't create great change in their time, Suddenly now though, some crackle in the air has made people maybe realise that they maybe not be as bad as others, All whilst the PM polling at 16%, the lowest poll in history for sitting PM.
In its short tenure this administration has Increased the National Debt - loading the credit card of the UK to cut tax, £100-£200 for an average worker a year. Which resulted in their mortgage cost rising and the average worker getting less.
Say Hello, Wave Goodbye.
Do not underestimate how significant this is. 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.
But the turmoil in the markets - and then at Westminster - have ripped that relationship apart.
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.
Do not underestimate how significant this is. 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.
But the turmoil in the markets - and then at Westminster - have ripped that relationship apart.
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.
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