Kwasi Kwarteng; UK; Finance Minister
Kwasi Kwarteng, 47, is taking over as head of the British Treasury with the onerous task of trying to pull the UK out of a serious cost of living crisis without plunging the public finances into the abyss.
“There’s a lot of pressure on Kwasi Kwarteng,” as the political longevity of new Prime Minister Liz Truss will be intimately tied to her performance, says Tony Travers, a professor at the London School of Economics (LSE), interviewed by AFP.
The enthusiastic Brexit supporter and early backer of Ms. Truss – whom he is a long-time friend and neighbor in Greenwich, southeast London – is the country’s first black Chancellor of the Exchequer.
He takes over from Nadhim Zahawi, an Iraqi-born Kurd, who himself succeeded Rishi Sunak, of Indian origin, and Sajid Javid, with Pakistani roots, embodying a more inclusive face of the Conservative party.
The son of Ghanaian immigrants who came to the U.K. in the 1960s, the former minister for enterprise, industry, and energy is also a true liberal, an advocate of low taxes and a free market economy.