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Kwarteng leaves as Chancellor over budget chaos

Kwasi Kwarteng has paid the price for the chaos unleashed by his mini-budget as he was reportedly sacked by Liz Truss.

The Chancellor flew back early from International Monetary Fund talks in Washington on Friday to be informed of his fate in a brief meeting with the Prime Minister, it was reported.

Ms Truss will stage a press conference in Downing Street later on Friday in which she is expected to announce major changes to Mr Kwarteng’s £43 billion tax giveaway.

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