Liz Truss sacked Finance Minister Kwasi Quarting

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British Prime Minister Liz Truss sacks Finance Minister Kwasi Quarting.

According to British media, he may leave his post after the budget proposal has been criticized.

– I am very sad to lose him, Truss says at a press conference.

Britain Prime Minister Liz Truss sacks Finance Minister Kwasi Quarting.

She confirmed this at a press conference in Downing Street on Friday afternoon. Truss says she is “so sorry for his loss.”

You have asked me to step down as your finance minister. I accepted,” Khwarting wrote on Twitter.

The announcement comes after the Finance Minister’s supplementary budget proposal, which drew massive criticism.

Sit for the second shortest time

Earlier in the day, the chancellor had to boycott his US visit to return to the UK to meet with Truss, according to Sky News.

With Kwarteng losing his job, he became the minister who held office for the second shortest time ever.

Ian MacLeod died of a heart attack 30 days after taking office in 1970. He is the shortest person in the position, according to the BBC.

takes office

The Prime Minister confirmed at the press conference that Jeremy Hunt will take over as the new Finance Minister. The BBC reports that he will become the fourth Secretary of the Treasury in 2022.

Today I asked Jeremy Hunt to become the new Treasury Secretary. “He is one of the most widely respected and experienced ministers and parliamentarians,” Truss said.

Furthermore, she says Jeremy Hunt shares her “desire for an economy with high growth and low taxes.”

Reverse tax issue

On Friday, British media reported that the Prime Minister was expected to amend the budget proposal.

At the press conference, Truss announced that she would withdraw the property tax cut proposal.

There has been a severe storm around the British economy since it introduced its budget gears, which forced the central bank to act aggressively to save the pound, TT wrote. He writes the proposal contained the largest tax cuts in the country in 50 years NRK.

My priority is to ensure the economic stability our country needs, says Truss.