It's understood Kwasi Kwarteng has been sacked by the British prime minister, who's due to give a press conference this afternoon.
Mr. Kwarteng's successor will be the UK's fourth chancellor in as many months.
Labour says the crisis won’t be forgiven or forgotten, while the Lib Dems are demanding a general election.
Sky's deputy political editor Sam Coates says he's been told the news about Kwarteng's departure.
