UK Treasury chief Kwasi Kwarteng fired under market pressure

LONDON—British Prime Minister Liz Truss sacked the head of the treasury Kwasi Kwartengin an attempt to salvage his mandate following pressure from his conservative party and international markets.

Mr Kwarteng, who just three weeks ago introduced the biggest tax cuts since the 1970s, was replaced after markets balked at the scale of borrowing needed to fund the growth. Ms Kwarteng has become the second shortest chancellor in recent British history.