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Jeremy Hunt is new chancellor as Kwasi Kwarteng dramatically sacked

Kwasi Kwarteng has been sacked in the fall-out from the Conservative Party's mini-budget
Gavin Cordon, PA

Liz Truss has appointed former foreign secretary Jeremy Hunt as the new Chancellor of the Exchequer after she dramatically sacked Kwasi Kwarteng.

The choice of Mr Hunt, a prominent backer of her rival Rishi Sunak in the Tory leadership contest, will be seen as an attempt to restore stability after weeks of turmoil in the wake of Mr Kwarteng's mini-budget.

Earlier, Mr Kwarteng was summoned back early from the annual meeting of the International Monetary Fund in Washington to be told of his fate in a brief meeting with the Prime Minister in No 10.

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