The Conservative Party is in chaos and Liz Truss has been accused of damaging the “Tory brand” and she has “broken our economy” after “Kwasi Kwarteng’s disastrous chancellorship.”

Kwasi Kwarteng was sacked on Friday after serving just 38 days as the Chancellor amid his shambolic mini budget which sent markets into turmoil.

A senior government Minister told Sky News that neither “Liz of Kwasi have a clue” and they don’t “know what they are doing.”

Read more related news:

Tories told they are ‘screwed’ and are planning a coup as Liz Truss warned she ‘has days’ to save her job

UK recession could be deeper than forecast, warns Credit Suisse economist

The ‘markets certainly don’t’ like this government’ as it is in ‘utter chaos’ and ‘working people are paying the price’

Kwasi Kwarteng has been thrown under the bus and sacked after just 38 days as the Chancellor after his shambolic mini budget

The Minister told Tamara Cohen, “I honestly don’t think either of them, Liz or Kwasi have a clue, I don’t think they know what they’re doing.”

“They’ve got one shot to satisfy the markets.”

Adding, “The worst possible thing, now the markets have priced in a U-turn on corporation tax would be mealy mouthed partial U-turn.

“But my instinct is she won’t survive. She’s introduced herself to the country in the worst way imaginable, and people’s views of her are quite settled now.

“Even if she stays, you can’t have a chancellor who has lost the confidence of the markets, that’s never happened before that I can remember.”

Liberal Democrat leader Sir Ed Davey has called for a general election after the Chancellor was sacked.

Sir Ed has accused the Prime Minister of having “broken our economy” and sent the government a clear message, it is now “time for the people to have their say.”

He said in a statement, “This mustn’t just be the end of Kwarteng’s disastrous chancellorship, it should be the death knell of the Conservatives’ reckless mismanagement of our economy.

“It didn’t suddenly start with Kwarteng, but it must end now.

“People are angry, fed up and worried about the future.

“Most of all they are furious that Conservative MPs seem to think this is an acceptable way to conduct the government of our country in these difficult times.

“Enough is enough.

“It started with Boris Johnson failing our country, and now Liz Truss has broken our economy, it is time for the people to have their say in a general election.”

A former Conservative cabinet minister told Sky News that Truss “has to go” and there is “nothing she can do to retrieve her position.”

The former Minister said over the potential corporation tax U-turn, “It was the centrepiece of her campaign, the bit that distinguished her from Rishi.

“She is as guilty as Kwasi Kwarteng and I don’t think it is good enough that she throws him under the bus and can then expect to proceed as if the problem is sorted.

“Crucially, she has damaged the Tory brand when we could say the economy was safe in our hands. We can’t now.

“She has to go. There is nothing she can do to retrieve her position.”