The UK’s chancellor of the exchequer is no longer Kwasi Kwarteng.
A close ally of Liz Truss, who is allegedly also her neighbor in Greenwich, has been removed from the PM’s senior staff as a result of the story.
An overview of his political career is provided below:
Like Truss, he was elected to Spelthorne, Surrey, as a member of the “class of 2010” when the Conservatives won the general election that year. He also co-authored the divisive 2012 book Britannia Unchained with Truss and others, which implied that British workers were “idlers”—a position from which he later distanced himself.
Favored leaving the EU in the 2016 referendum
He became the government of Boris Johnson’s business secretary which was considered a reward for supporting Johnson’s leadership bid.
Before becoming the PM’s finance minister, he endorsed Liz Truss in her own 2022 leadership campaign and was referred to as her political soulmate.
Presented a mini-budget on September 23, that included borrowing-financed tax cuts of £45 billion. This was followed by market volatility and a Bank of England intervention.
