Cauterising Kwasi Kwarteng

Having only been in office since 6 September and in the wake of his and Liz Truss’ uncosted and mis judged Mini Budget, the new Chancellor Kwasi Kwarteng was sacked on Friday 14 October.

Last month, in my post anticipating the arrival of the Truss administration, I mentioned that Stratford upon Avon MP Nadhim Zahawi, the Chancellor of the Exchequer who assumed office on 5 July, was about to become the Chancellor who served the second shortest time in office. In the end he was in office for 63 days.

Kwasi Kwarteng survived a mere 38 days as Chancellor, before being sacked and replaced by Jeremy Hunt. Only the late Iain Macleod, who died in office in 1970 after just 30 days, served for less time.

Big questions remain

Will this change be enough to steady the ship?

Will Liz Truss be the next to go and if so where does this leave the UK economy?