Jeremy Hunt is new chancellor after Kwasi Kwarteng was sacked

BREAKING: Jeremy Hunt has been appointed to replace Kwasi Kwarteng.

after a revolt over his controversial tax plans.

Mr Kwarteng was also ‘100%’ sure he was remaining in post, with ministers also saying prime minister Liz Truss had ‘total confidence’ in the now former-chancellor. The PM will hope the sacking and the U-turn will ward off any attempted leadership coup, which so far does not seem to be working.

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