Kwasi Alfred Addo Kwarteng, a British Conservative Party politician with Ghanaian roots who was appointed as the Minister of Finance in the United Kingdom has been sacked, BBC has reported
He was ousted after speculation that the British Prime Minister, Liz Truss will announce a U-turn on parts of the mini-budget.
Kwarteng is the second shortest-serving UK chancellor on record.
Kwarteng flew back to the UK for urgent talks with Truss this morning after cutting short a meeting with international finance ministers in Washington DC.
Before he was appointed the Finance Minister, Kwarteng served as the Secretary of State in the Department of Business, Energy, and Industrial Strategy.
Kwarteng was born in Waltham Forest, East London, in May 1975 to Ghanaian parents who had immigrated to the United Kingdom for a decade.
He previously served as the Minister of State for the same department.
He has served as MP since 2010 for Spelthorne, Surrey, South-East England.