Truss sacks Kwarteng as Chancellor; rolls back another tax cut

Kwasi Kwarteng is the new Chancellor of the Exchequer under Prime Minister Liz Truss, while Simon Clarke has the housing brief as Levelling Up, Housing & Communities Secretary.

Former Health Secretary Jeremy Hunt has torn down most of Kwarsi Kwarteng's three-week-old tax cuts - but the Stamp Duty cut remains.

Foreign Secretary Liz Truss has beaten former Chancellor Rishi Sunak to become leader of the Conservative Party and Britain's next Prime Minister.