UK Prime Minister, Liz Truss, says she is “sorry to lose” Kwasi Kwarteng, describing her former Chancellor as a “great friend”. In the same speech, Truss announces the appointment of former Health Secretary Jeremy Hunt as the country’s new chief of finance. The sacking of Kwarteng comes after a disastrous period for Truss’ fledgling government during which the value of the pound has plummeted as a result of the ill-received tax cutting ‘mini-budget’.

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