british prime minister, Les TrussFinance Minister Kwasi Kwarting was sacked today, after the markets turmoil caused by a controversial economic plan put in place by both of them.
- “You have asked me to step down as your finance minister. I have agreed,” Kwarteng wrote in a letter to Truss posted on his Twitter account.
The crisis in the British government does not seem to end with the departure of liberal Kwarteng from the Cabinet, and the possibility that the next to follow his path will be Truss herself, who is increasingly being mentioned in circles and in the media. She even questioned the official Conservative Party, local media reported.
Truss and Quarting expended an enormous amount of political capital trying to implement the controversial tax-cutting plan. He is now trying to “reassure the markets about our fiscal discipline” and save his job as prime minister.
- The proposal, which would have cut about $48 billion in taxes if implemented in full, prompted the Bank of England to intervene to avert a broader economic crisis.
Political instability in recent days weighed on the pound, which lost 1.10% against the dollar, to $1.1199, and 0.57% against the euro, to 86.83 pence.
Truss will speak to the country today to refer to Quarting’s dismissal in a climate of tension and an unpredictable crisis of confidence.
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