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During his time in office, Mr Kwarteng spent his time batting off criticism following the announcement of his Growth Plan 2022 in the Commons on September 23.
Plans included a £45billion tax-cutting package, which forced the pound to crash to its lowest level against the dollar in 37 years and sent the cost of Government borrowing and mortgage rates up. The Bank of England was forced to intervene with unprecedented action to save the economy.
Ms Truss’ economic agenda of a “low tax, high growth economy” helped her win the Tory leadership contest at the start of September but has now resulted in turbulence among the party.
In reply to Mr Kwarteng’s letter accepting he had been sacked, Ms Truss said she was “deeply sorry to lose him” from Government. Despite sacking him, she added: “I deeply respect the decision you have taken today.”
She said that they “share the same vision” for the UK and praised the energy price guarantee and the energy bill relief scheme: “Thanks to your intervention, families will be able to heat their homes this winter and thousands of jobs and livelihoods will be saved.”
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In a poll that ran from 6pm on Friday, October 14, to 8am on Monday, October 17, Express.co.uk asked readers: “Is Liz Truss right to sack Kwasi Kwarteng as Chancellor?”
From the 1,156 votes cast, the majority of readers, 66 percent (757 people), said “no” Ms Truss was not right to sack Mr Kwarteng as Chancellor.
Meanwhile, a further 32 percent (374 people) said “yes” it was the right move, and a further two percent (25 people) said they did not know.
Dozens of comments were left below the accompanying article as readers shared their thoughts on Mr Kwarteng’s sacking.
And username Slarti B said: “Totally dishonourable to sack Kwarteng but not to resign herself.”
Labour also called for Ms Truss to stand down and Shadow Chancellor Rachel Reeves said: “We don’t just need a change in Chancellor, we need a change in Government.”
Liberal Democrat leader Sir Ed Davey accused Ms Truss of mismanaging the economy and urged for a general election to be called.
He said: “It started with Boris Johnson failing our country, and now Liz Truss has broken our economy, it is time for the people to have their say in a general election.”
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