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Prime Minister Liz Truss has paid tribute to former Chancellor Kwasi Kwarteng, thanking him for his "huge friendship and support".
In a letter, she claims it was Kwarteng who chose to resign - describing this as a decision made in the "national interest".
Earlier, Kwarteng signalled he was sacked, saying he was asked to "step aside".
The PM wrote: "I deeply respect the decision you have taken today. You have put the national interest first."
She adds: "We share the same vision for our country and the same firm conviction to go for growth.
"I know that you will continue to support the mission that we share to deliver a low tax, high wage, high growth economy."
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