Relationships between prime ministers and chancellors can deteriorate quickly and often end in dismissal or resignation. For the former, think Geoffrey Howe under Thatcher and Norman Lamont under Major. For the latter, think Lawson and Thatcher and Sunak and Johnson.
It appears that Liz Truss initially resisted Kwasi Kwarteng's idea that the Treasury should issue a statement to calm the markets, but eventually gave way.
These two are, of course, ideological soulmates and are locked together because of their advocacy of a risky and controversial economic policy. They also lack depth of support in the Parliamentary party.
The incentives to stay in step are therefore strong. However, because economic policy has such an impact on a Government's standing, prime ministers often get involved (Tony Blair was an exception).
Examples of a harmonious relationship between a prime minister and a chancellor are rare, but they do occur: Healey and Callaghan is a prime example. John Major did not have the authority to challenge Ken Clarke who went further on changing the Bank-Treasury relationship than the prime minister would have liked.
Truss and Kwarteng? Watch this space.
