U.K. Leader In Peril After Treasury Chief Axes 'Trussonomics'

Jeremy Hunt, the new Treasury chief, has reversed most of the tax cuts announced by Prime Minister Liz Truss, which were to be funded by borrowing. This decision was made to address global market concerns and reassure the strength of the UK's economy. The previous Treasury chief was dismissed due to the negative reaction to the tax cuts.

What position did Jeremy Hunt take over just before announcing the changes?

What was the reaction to the planned tax cuts that led to Hunt's predecessor being fired?