London, Townflx Business News – As Prime Minister Liz Truss tries to preserve her troubled premiership, Townflex receives information that has been confirmed by BBC and Sky News that Kwasi Kwarteng of the UK has been sacked.
UK Finance Minister Kwasi Kwarteng sacked: His sacking comes barely a day after he said he was ‘not going anywhere’. which he said on Thursday.
After dismissing Kwasi Kwarteng as chancellor, Liz Truss expects to unveil proposals to increase company tax while scrapping significant portions of her mini-budget.
The prime minister and chancellor will soon meet, and conversations will take place in rooms 10 and 11, before the prime minister makes a public remark.
With sterling responding favorably to a number of leaks, the markets priced in a reversal of the government’s attitude, leaving the administration with no alternative except to abandon its plans.
Kwarteng cut short a meeting with foreign finance ministers in Washington, DC, and took a flight back to the UK for urgent meetings with Truss on Friday morning.
Kwasi Kwarteng few munites after his cacking came to light has taken to his official Twitter account where he released a press statement in reacting to his sack.
The statement reads below
You have asked me to stand aside as your Chancellor. I have accepted.
When you asked me to serve as your Chancellor, I did so in full knowledge that the situation we faced was incredibly difficult, with rising global interest rates and energy prices. However, your vision of optimism, growth and change was right. As I have said many times in the past weeks, following the status quo was simply not an option.
For too long this country has been dogged by low growth rates and high taxation – that must
still change if this country is to succeed.
The economic environment has changed rapidly since we set out the Growth Plan on 23 September. In response, together with the Bank of England and excellent officials at the Treasury we have responded to those events, and I commend my officials for their dedication.
It is important now as we move forward to emphasise your government’s commitment to fiscal discipline. The Medium-Term Fiscal Plan is crucial to this end, and I look forward to supporting you and my successor to achieve that from the backbenches.
We have been colleagues and friends for many years. In that time. I have seen your dedication and determination. I believe your vision is the right one. It has been an honour to serve as your first Chancellor.
Your success is this country’s success and I wish you well.
https://twitter.com/KwasiKwarteng/status/1580892129630777346
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