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U.K. Treasury Chief Kwasi Kwarteng Fired Amid Market Pressure
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wsj.comLONDON—U.K. Prime Minister Liz Truss fired Treasury chief Kwasi Kwarteng, in an attempt to salvage her tenure following pressure from her Conservative Party and international markets.
Mr. Kwarteng, who just three weeks ago presented the largest tax cuts since the 1970s, was replaced after markets balked at the scale of the borrowing required to fund the growth package. He became the second-shortest-serving chancellor in recent British history.
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