As Prime Minister Liz Truss prepares to hold crisis talks over her controversial mini-budget, the future of the current government has become more uncertain.
While Ms Truss has to hold on until the beginning of next year to avoid becoming the shortest Prime Minister in history, Kwasi Kwarteng has already thwarted the dreaded record of being the shortest-serving Chancellor by eight days after being 'asked to stand aside'.
For now, the record of shortest-ever serving Chancellor belongs to Conservative MP Iain Macleod. Mr Macleod only served in office for 30 days before passing away in 1970.
Read more: Kwasi Kwarteng sacked as chancellor as Liz Truss to hold press conference today - LIVE updates
In a letter to the Prime Minister, Mr Kwarteng wrote: "You have asked me to stand aside as your Chancellor. I have accepted.
"When you asked me to serve as your Chancellor, I did so in the 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.
"As I have said many times in the past few weeks, following the status quo was simply not an option. For too long this country has been dogged by low growth rates and high taxation - that must still change if this country is to succeed.
"The economic environment has changed rapidly since we set out the Growth Plan on 23 September., In response, together with the Bank of England and excellent officials at the Treasury we have responded to those events, and I commend my officials for their dedication.
"It is important now as we move forward to emphasise your government's commitment to fiscal discipline. The Medium-Term Fiscal Plan is crucial to this end, and I look forward to supporting you and my successor to achieve that from the backbenches.
"We have been colleagues and friends for many years. In that time, I have seen your dedication and determination. I believe your vision is the right one. It has been an honour to serve as your first Chancellor.
"Your success is this country's success and I wish you well."
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However, if Ms Truss were to leave office before the start of next year, she wouldn't be the only one who failed to keep the position for less than a year. For example, Conservative PM Andrew Bonar only clocked in 211 days as Prime Minister in 1922 to 1923 before resigning due to poor health.
In fact, it wasn't unusual for Prime Minister to serve for only a year or two in the 18th and 19th centuries. The shortest record for serving Prime Minister is set by George Canning who only stayed in office for 118 days.
The uncertainty surrounding the Conservative government comes following a wave of negative reactions to the mini-budget which led to economic turmoil. Ms Truss will hold a press conference later today where she is expected to announce a wave of U-turns on her economic policies.
It is believed that Ms Truss and Mr Kwarteng will abandon key elements of the budget to help reassure the unstable market.
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