U.K. Prime Minister Liz Truss Sacks Chancellor Kwasi Kwarteng After Just Five Weeks
K.J. Yossman U.K. Prime Minister Liz Truss has sacked Kwasi Kwarteng as Chancellor of the Exchequer – the government’s top financial post – after just five weeks into office. The move comes as the U.K. continues to deal with the fall-out of Kwarteng’s mini-budget, which Truss endorsed and triggered financial turmoil, including a steep rise in interest rates. The country as already been dealing with sky-rocketing energy costs as well as a cost of living crisis, which is affecting both individuals and businesses. Kwarteng was in the U.S. for business when he was called back urgently on Friday (Oct. 14) to hear he’d been sacked. At time of writing, Truss had not yet announced his replacement.