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Following Truss's resignation and Rishi Sunak's appointment as Prime Minister, Kwarteng said in a November 2022 interview that he warned Truss that she was "going too fast" with her ill-fated economic plans. Kwarteng stated he had urged her to "slow down" after the mini-budget.
Kwasi Kwarteng, then Chancellor of the Exchequer, announced large-scale borrowing and tax cuts in a mini-budget on 23 September. The mini-budget was widely criticised and largely reversed, having led to financial instability. Truss dismissed Kwarteng without explanation on 14 October and appointed Jeremy Hunt to succeed him.
The mini-budget was a ministerial statement entitled "The Growth Plan" delivered by the Chancellor of the Exchequer, Kwasi Kwarteng, to the House of Commons on 23 September. It was received negatively by global financial markets and ultimately led to the dismissal of Kwarteng on 14 October. In the following days, Truss came under increasing ...
Boris Johnson resigns after almost 60 MPs quit government or party posts. – September 6 . Liz Truss becomes Prime Minister. Kwasi Kwarteng is appointed Chancellor of the Exchequer.
The pivotal event of her time in office was then-chancellor Kwasi Kwarteng’s mini-budget on September 23, which triggered turmoil in the financial markets and required an emergency intervention ...
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Truss and her chancellor, Kwasi Kwarteng, announced large-scale tax cuts and borrowing in a mini-budget, which was widely criticised and largely reversed, having led to financial instability. Truss dismissed Kwarteng without explanation on 14 October and appointed Jeremy Hunt to succeed him.
Kwasi Kwarteng has admitted he “got carried away” during his brief stint as chancellor. Reflecting on Liz Truss’s disastrous seven weeks as prime minister, the chancellor she sacked after he ...