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Britain’s finance minister Kwasi Kwarteng has been forced from office just hours after arriving back to London from meetings in Washington, D.C.
Downing Street says Britain’s Prime Minister Liz Truss will make a public statement Friday afternoon, designed to calm financial markets and members of her own Conservative Party over her new government’s commitment to fiscal responsibility.
Truss has sought to reverse course to some extent by canceling a planned tax cut for Britain’s highest earners but has faced sustained pressure to cancel more of her planned measures, amid criticism from legislators from her own party, political opponents, international economists and investors who have continued to divest themselves of British assets.
