Jeremy Hunt replaces Kwarteng as UK chancellor

STORY: Jeremy Hunt replaces Kwarteng as UK chancellor DATELINE: Oct. 15, 2022 LENGTH: 00:02:41 LOCATION: London CATEGORY: POLITICS SHOTLIST: 1. various of Jeremy Hunt 2. various of Kwasi Kwarteng speaking 3. various of Liz Truss 4. various of Jeremy Hunt speaking 5. various of London STORYLINE: Downing Street announced Friday that Jeremy Hunt, former foreign secretary of the United Kingdom (UK), has been appointed as chancellor of the exchequer. Hunt, 55, replaced Kwasi Kwarteng, who resigned earlier in the day after his controversial mini-budget plan. Kwarteng's time in office -- 38 days -- made him one of the shortest-serving UK chancellors in history. The mini-budget Kwarteng presented last month, which contained controversial debt-funded tax cuts, has been blamed for the economic turmoil which saw the British pound plunge to a 37-year low against the U.S. dollar while the cost of government borrowing and mortgage rates surge. In a press conference, UK Prime Minister Liz Truss confirmed Kwarteng's r