Jeremy Hunt has been confirmed as the new Chancellor of the Exchequer, becoming the fifth person to occupy Number 11 Downing Street since 2019.
This comes as Kwasi Kwarteng was pushed out of Truss’ government earlier on Friday.
The Rt Hon Jeremy Hunt MP @Jeremy_Hunt has been appointed Chancellor of the Exchequer @HMTreasury. pic.twitter.com/bldKWr3crG
— UK Prime Minister (@10DowningStreet) October 14, 2022
Kwarteng’s departure made him the second-shortest serving Chancellor in history. He had been in the USA but returned earlier than expected for urgent talks with the Prime Minister.
This comes as Liz Truss also announced a “U-turn” on elements of Kwarteng’s mini-budget – namely the corporation tax freeze – that was announced in September, though Kwarteng – the architect of many of its elements – will play no further part.
Confirming the end of his tenure, Kwarteng said it was his honour to serve as Truss’ first Chancellor.
— Kwasi Kwarteng (@KwasiKwarteng) October 14, 2022
