British Prime Minister Liz Truss on Friday dismissed her finance minister, forcing Kwasi Kwarteng to carry the can for turmoil sparked by her right-wing economic platform as restive Conservatives plotted her own demise. There was no immediate announcement of his successor, who will become Britain's fourth finance minister this year. The chancellor of the exchequer's September 23 budget sparked markets chaos because of fears it would drive up state debt. The pound plunged against the dollar as investors seized on reports that Kwarteng had been sacked over his debt-fuelled budget that sparked markets chaos. Sterling sank 1.1 percent to $1.1199 after UK media reported that Prime Minister Liz Truss had dismissed the chancellor of the exchequer.

Source: News 24 October 15, 2022 04:52 UTC