On Thursday, Kwasi Kwarteng was asked if, in a month’s time, he would still be in his job and Liz Truss would still be prime minister. “Absolutely, 100 percent,” Kwarteng answered. “I’m not going anywhere.” Less than a day later, he was gone.
“Absolutely, 100 percent,” Kwarteng answered. “I’m not going anywhere.”
As well as being despised by the electorate, financial markets reacted to the unfunded proposals with horror. The pound collapsed to an all-time low against the dollar and the Bank of England was forced to take emergency action to prevent total ruin for pension funds. But as economic chaos continued to roil Britain’s finances, speculation built this week that Truss and Kwarteng would have to overturn even more of their calamitous mini-budget. Kwarteng was supposed to stay in Washington, D.C., for an International Monetary Fund summit but flew back to London a day early as the crisis mounted.
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