British Finance Minister Kwasi Kwarteng has been dismissed after less than six weeks in office, the BBC reported on Friday, following the government’s massive tax cuts that caused turmoil in the financial markets.
Kwarteng is no longer the Chancellor of the Exchequer. The Times had previously reported that Kwarteng was expected to be sacked.
His dismissal makes Kwarteng the British finance minister with the shortest tenure since 1970.
His successor would be the fourth British finance minister in four months as the nation grapples with a significant rise in the cost of living.
