Former chancellor oversaw ill-fated ‘mini-budget’ in 2022 and was sacked by Liz Truss after only 38 days
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    8 months ago

    This is the best summary I could come up with:

    The MP’s announcement came as a reminder of the debacle, hours before Truss was to launch a rightwing Conservative movement called PopCon, joined by other senior figures from the party

    Kwarteng joins dozens of other Tory MPs who have announced that they will not be contesting the election, at a time when current polls indicate that the party faces a wipeout.

    Truss and Kwarteng had once been close but the MP, who was sacked in 2022 by her after only 38 days as chancellor, has since made critical comments, such as that she was “not wired” to be prime minister.

    “I love her dearly, she’s a great person, very sincere and honest,” he told the Telegraph’s political editor, Ben Riley-Smith, in a book last year.

    The Labour MP Jess Phillips tweeted: “Kwasi Kwarteng made everyone’s mortgages rise, his tenure as chancellor a dangerous embarrassment.

    As chancellor, Kwarteng was accused of delivering a reckless mini-budget for the rich after his £45bn tax-cutting package sent the pound crashing to its lowest level against the dollar in 37 years.

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