Not the most stable government in the world….. this is our FOURTH Chancellor this year.
Liz Truss has sacked Chancellor Kwasi Kwarteng three weeks after he unveiled his mini-budget. The prime minister is preparing to hold a press conference on Friday afternoon as speculation builds that the government could reverse more of the tax cuts announced in its mini-budget, according to multiple media outlets.
His sacking does not come a big surprise as Liz is trying to restore credibility in thein the eyes if the market despite being a part of the mini -budget and adamantly standing by the policies.
A scapegoat perhaps: can this save the credibility of the Prime Minister whose
37 days in power have crushed the markets, given mortgages holder triple costs for their borrowing, the UK pound dropped to it lowest in history.
How long can Truss last?
In the meantime the markets remain anxious as they need to see where the Tories go from here. Economist are waiting to see what happens.