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UK finance minister Kwasi Kwarteng was sacked. After the previews of the BBC and Sky News, Kwarteng himself confirmed via Twitter that Prime Minister Liz Truss asked him to step aside and he accepted.
Yesterday, Kwarteng himself said that “he would not go anywhere” despite market turmoil due to the government’s controversial economic plans.
The departure of Kwarteng, who just three weeks ago presented the biggest UK tax cuts since the 1970s, comes after markets have put a lot of pressure with sterling and gilt sales in the face of the size of the loan required for finance the growth package.