Kwesi Kwarteng flew to London from Washington DC after a series of meetings with the IMF on Friday only to be sacked as the Chancellor Of The Exchequer.
Mr Kwarteng had a brief meeting with the Prime Minister which led to his removal, hopefully this may give Ms Truss some breathing space as she seeks to announce major changes to the proposed £43 billion tax giveaway.
Because she was closely linked to the policies that caused the problems, it’s unclear how much chances of survival she has in holding on to her job
The Prime Minister was committed to reversing a hike in national insurance rates and ditch a planned rise in corporation tax but failed to explain how they would be paid for.
But after the financial markets took fright – with the pound plummeting against the dollar and the cost of government borrowing soaring – the Conservatives have seen their opinion poll ratings tank.
Former foreign secretary Jeremy Hunt, takes over as chancellor — with the first item in his red box to put up those same taxes in an attempt to restore the government’s economic credibility.
He faces the unenviable task of pulling together what will effectively be a full-blown budget in just two and a half weeks, with his room for manoeuvre more constrained than any chancellor since the 1970s.