Chancellor Kwasi Kwarteng expected to be sacked after just 40 days in office
Liz Truss is set to hold talks with Mr Kwarteng shortly, after he returned to London early from a visit to the International Monetary Fund’s annual meeting in Washington.
The Prime Minister is set to hold a press conference later today. Timings – and the detail of what will be announced – are yet to be confirmed.
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Hide AdBefore news of the sacking emerged, Downing Street said the Chancellor would not be appearing at the press conference.


Mr Kwarteng’s dismissal and a widely expected U-turn on scrapping the corporation tax rise would be part of an effort to reassure markets after the mini-budget turmoil.
Downing Street refused to comment on the speculation.
If confirmed today, Mr Kwarteng would become the Chancellor with the shortest time in office since the 1970s, and the second-shortest of all time.
His predecessor Nadhim Zahawi, was chancellor between July 5 and September 6.