Kwasi Kwarteng He is no longer the UK’s Minister of the Economy, after meeting British Prime Minister Liz Truss this Friday, although this has not been formally approved by the Government, British channel BBC reported this Friday.
Kwarteng met with Truss in Downing Street, the headquarters of the Government, where his departure from the Government became official, but according to the BBC, It is still unknown whether he was sacked due to pressure from the Government as a result of the controversial financial plan or whether there was an agreed exit. Presented by the Minister on 23 September.
The former minister was appointed head of the British economy just 38 days ago, and his short stay at the head of this portfolio has been marked mainly by the discussion of his radical program of sowing radical tax cuts that plunged markets into chaos. The Conservative leader is expected to hold a press conference this afternoon around 2:00 PM (1:00 GMT) where he will announce important changes. tax program.
The prime minister is expected to clarify who will replace Kwarteng in this appearance, and local media are speculating about it. Truss to announce significant adjustments to financial plans. One of the underestimated measures in the British press is corporate tax, which raises it from 19% to 25% next year, something the head of government promised not to do.
Kwarteng denied that he is considering stepping down despite the turmoil caused by the announcement of economic measures that forced the Bank of England to intervene in a debt buyback to prevent the bankruptcy of various pensions. source of money. Questioned growth plan drops sterling It raised the cost of long-term debt against the US dollar. United Kingdom. Since then, Truss has come under increasing pressure from the opposition and his Tory entourage to reverse or change his controversial plans.