Truss sacks finance minister

British Prime Minister, Liz Truss

The British Prime Minister, Liz Truss, has dismissed the Minister of Finance, Kwasi Kwarteng and has changed the tax strategy, in order to stabilize the political situation within the country.

Kwarteng said he resigned at the request of Truss, after he was asked to return to London after several meetings he had at the International Monetary Fund in Washington.

Truss has been appointed Prime Minister for 37 days. She has appointed Jeremy Hunt, former foreign and health secretary, to replace Kwarteng.

"You asked me not to be your chancellor anymore. I have accepted", said Kwarteng in the letter of resignation that was published on Twitter.

She told him that "as a long-time friend and colleague, I am very sorry that we are losing you in the Government".

"We share the same vision." At the time she spoke, the value of the pound fell against the US dollar.

Truss has said he will push ahead with the plan to raise corporate tax, although he has previously said he would back off.

Kwarteng is the Minister of Finance who has been in power at least since 1970./ Rel

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