UK PM Liz Truss replaces former Treasury Chief Kwasi Kwarteng with Jeremy Hunt
Hunt, an ex-cabinet minister, has served as foreign and health secretaries
Hunt, an ex-cabinet minister, has served as foreign and health secretaries
Hunt, an ex-cabinet minister, has served as foreign and health secretaries
Hunt, an ex-cabinet minister, has served as foreign and health secretaries
UK Prime Minister Liz Truss has appointed former Cabinet minister Jeremy Hunt as the new Treasury chief, replacing sacked Kwasi Kwarteng.
Hunt is a government veteran who has served as foreign and health secretaries, and ran unsuccessfully to lead the Conservative Party in 2019.
Truss also replaced the second highest-ranking Treasury minister in a bid to restore order after weeks of turmoil over the government's economic plans. Truss sacked Kwarteng on Friday after his disastrous mini-budget caused market turmoil and rising mortgage rates.
In a statement published on Twitter, Kwarteng said, “You have asked me to stand aside as your Chancellor. I have accepted.” Defending the mini-budget, he said that following the status quo was simply not an option.