Kwasi Kwarteng admits attending champagne party after mini-budget ‘wasn’t best day to go’

Kwasi Kwarteng has admitted that it "probably wasn't the best day" to attend a champagne party with Conservative donors hours after his mini-budget announcement sent markets into turmoil.

The chancellor attended a drinks reception where hedge fund managers were present.

Speaking to LBC Radio, Mr Kwarteng said that he spent a "quarter of an hour... or maybe a bit longer" at the event, which was something he "had to do."

"It was something I signed up to do... with hindsight it probably wasn't the best day to go," Mr Kwarteng added.

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