By Max ColchesterU.K. Prime Minister Liz Truss fired her Treasury chief Kwasi Kwarteng on Friday in an attempt to salvage her tenure following pressure from her Conservative Party and the international market. 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. Ms. Kwarteng became the second-shortest serving chancellor in recent British history. "You have asked me to stand aside as your chancellor. Write to Max Colchester at max.colchester@wsj.com(END) Dow Jones NewswiresOctober 14, 2022 08:25 ET (12:25 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.

Source: Wall Street Journal October 14, 2022 18:35 UTC