Kwasi Kwarteng, UK's finance minister, was fired

After less than six weeks on the job, Britain's Finance Minister Kwasi Kwarteng was fired

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the BBC reported on Friday (October 14), as the government's significant tax cuts caused havoc on the financial markets

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Kwarteng is no longer chancellor of the exchequer. Kwarteng was anticipated to be fired

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As the country struggles with a cost-of-living problem, Kwarteng's dismissal makes him the British chancellor

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with the shortest tenure since 1970.

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His successor would be the UK's fourth finance minister in as many months.

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Kwarteng cut short a trip to Washington on Friday morning in response to rumours

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the government intended to reverse tax cuts revealed in a "mini-budget" Kwarteng unveiled last month.

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