Jeremy Hunt appointed Chancellor after Kwasi Kwarteng sacked
14 October 2022, 13:59 | Updated: 14 October 2022, 14:30
Jeremy Hunt has been appointed as the new Chancellor of the Exchequer, Downing Street has announced.
The former Health Secretary will replace Kwasi Kwarteng in the role, who was pushed out after overseeing a disastrous mini-budget that sent markets into a panic and caused the pound to plummet.
Yesterday, the Mr Kwarteng said he was "absolutely not going anywhere", and insisted both his and the Primer Minister's jobs were safe.
But in a letter to the Prime Minister he said he had accepted Liz Truss's request that he stand aside from his role.
He was fired shortly before Ms Truss is expected to abandon parts of the Government's fiscal statement, in an attempt to get through the financial and political turmoil their announcement triggered.
