Kwasi Kwarteng has been sacked as chancellor after his mini-budget resulted in financial turbulence and a revolt from Tory MPs.
He has become Britain’s second shortest-serving chancellor, with just 38 days in the role.
The long-time ally of Prime Minister Liz Truss was seen as her political soulmate when he was appointed to the role on 6 September.
He took over at Number 11 Downing Street at a critical time for the UK economy, with millions looking to him for help with soaring winter energy bills.
An Old Etonian who became the first black Conservative cabinet minister in 2021, he read classics and history at Trinity College, Cambridge, and has a PhD in economic history. He is also a past winner of notoriously tough BBC quiz show University Challenge.
Speaking before Mr Kwarteng became chancellor, one friend told the Times that he and Ms Truss were a bit like “Batman and Robin”, adding: “They are both slight social misfits, amiable geeks, and have strong views which are in tune…