KWASI Kwarteng has blamed “incredibly difficult markets” for his sacking as Chancellor by friend and ally Liz Truss.
In a letter to the PM confirming his departure, the fired Chancellor said: “You have asked me to stand aside as your Chancellor. I have accepted.”
Mr Kwarteng added: “It is important now we move forward to emphasise your government’s commitment to fiscal discipline… I look forward to supporting you from the backbenches.
“We have been colleagues and friends for many years. In that time, I have seen your dedication and determination. I believe your vision is the right one.
“It has been an honour to serve as your first Chancellor.”
