'I'm sorry to lose you' - Prime Minister Liz Truss’s reply to Kwasi Kwarteng

His dismissal was triggered by a mini-budget Kwarteng presented which later resulted in financial turbulence and a revolt from Tory MPs.

The British of Ghanaian descent has since been replaced with Jeremy Hunt.

In a letter communicating his acceptance to be ousted from the Truss government, Kwasi Kwarteng stated that he has accepted to stand aside as the Chancellor of the Exchequer.

“When you asked me to serve as your Chancellor, I did so in full knowledge that the situation we faced was incredibly difficult, with rising global interest rates and energy prices. However, your vision of optimism, growth and change was right,” Kwarteng’s letter read in part.

In a reply, Prime Minister Liz Truss apologised to Kwasi Kwarteng for kicking him out of her government.

She acknowledged that her dismissed appointee was “a long-standing friend and colleague” adding that they both share the same vision for the UK and the same firm conviction for the country’s growth.

Truss described Kwarteng as a Chancellor in extraordinarily challenging times as the UK is currently going through a “severe global headwind”.

“Thank you for your letter. As a long-standing friend and colleague, I am deeply sorry to lose you from the Government.

“We share the same vision for our country and the same firm conviction to go for growth. You have been Chancellor in extraordinarily challenging times in the face of severe global headwinds,” the Prime Minister’s reply read in part.

She continued by listing a number of interventions that Kwarteng had rolled out in his infamous mini-budget stressing that it would positively impact on families "and thousands of jobs and livelihoods will be saved."

“I deeply respect the decision you have taken today. You have put the national interest first. I know that you will continue to support the mission that we share to deliver a low tax, high wage, high growth economy that can transform the prosperity of our country for generations to come.”

“Thank you for your service to this country and your huge friendship and support. I have no doubt you will continue to make a major contribution to public life in the years ahead.

“Best wishes,” Liz Truss concluded.

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