Kwasi Kwarteng

Kwasi Kwarteng was named UK Chancellor of the Exchequer, responsible for the country's public finances.

The Bank of England Kwasi Kwarteng was named UK Chancellor of the Exchequer, responsible for the country’s public finances.

Britain's new Prime Minister Liz Truss has appointed business and energy secretary Kwasi Kwarteng as the new finance minister, her office said in a ...

[read more](/world/uk/new-finance-minister-kwarteng-gives-uk-pm-truss-key-ally-economic-storm-2022-09-06/) Register now for FREE unlimited access to Reuters.com [read more](/world/uk/uk-can-afford-borrow-more-favourite-become-finance-minister-says-2022-09-05/)

Since 2021, Kwarteng has overseen the government's business, energy and industrial strategy department, which has supported blockchain innovation.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). It is unclear to what extent Kwarteng supports Sunak’s crypto vision for the country. As the new Treasury department head, Kwarteng will have to tackle [into a crypto hub](https://www.coindesk.com/policy/2022/04/04/uk-aims-to-become-global-crypto-hub-says-exchequer/) before he [resigned from](https://www.coindesk.com/policy/2022/07/05/rishi-sunak-resigns-as-uk-finance-minister/) the government in July. One of Truss’ first duties is to select her cabinet.

Prime Minister Liz Truss' office named Kwasi Kwarteng as the next U.K. finance minister, replacing Nadhim Zahawi, who served as chancellor of the exchequer ...

[considering different legislative paths to regulate stablecoins](https://cointelegraph.com/news/uk-government-moves-forward-with-regulatory-framework-on-stablecoins-for-payments) and determine crypto’s role in the economy. [appointed](https://twitter.com/RoyalFamily/status/1567123856816496640) Truss as the next U.K. In July 2021, the government department [announced](https://www.gov.uk/government/news/new-53-million-funding-for-uk-manufacturers-to-boost-competitiveness-through-digital-tech) $61 million in funding for projects driving “data-driven innovations,” including the use of blockchain in supply chains. [named](https://twitter.com/10DowningStreet/status/1567213027300188161) Kwarteng as the next U.K. While Truss said in 2018 that the U.K. finance minister, replacing Nadhim Zahawi, who served as chancellor of the exchequer for three months [following Rishi Sunak’s resignation](https://cointelegraph.com/news/exodus-of-pro-crypto-financial-regulators-in-uk-amid-allegations-of-misconduct-in-pm-s-government) in July.

The business secretary now takes on an even bigger brief to restore the nation's finances and keep the City on top.

He has carved out an image as a low-tax, free-marketeer Conservative who has long backed Brexit and pro-growth policies for financial services. New prime minister Liz Truss has made former banker Kwasi Kwarteng chancellor as she forms a new top team that could reshape the City. Ex-bank analyst Kwasi Kwarteng made chancellor as Liz Truss forms top team that could reshape the City

Chancellor Kwasi Kwarteng met market leaders this morning (Wednesday) to set out the government's new, pro-growth economic approach.

Mr Kwarteng stressed that the government will support the economy to grow. The Chancellor was clear this will mean necessary higher borrowing in the short-term whilst ensuring monetary stability and fiscal discipline over the medium term. Kwasi Kwarteng began by acknowledging the extraordinary challenges that families and businesses across the UK are facing this Winter, exacerbated by Putin’s barbaric invasion of Ukraine.

Kwasi Kwarteng has been appointed Chancellor of the Exchequer as Liz Truss takes on the mantle of prime minister.

Following the results of the Conservative party election revealed on Monday (5 September), Truss has been assembling a cabinet in order to address the magnitude of problems facing the nation. - Members-only access to analysis via our exclusive industry polls - Members-only access to the Editor’s weekly news roundup newsletter

"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, ...

They will "put money back into people's pockets" and businesses to revive an economy on the brink of recession, he said in an op-ed in the Financial Times on Monday. Given his background in the Conservative Party, Mr. The son of Ghanaian immigrants who came to the U.K. Kwarteng will first have to implement the tax cuts promised by Liz Truss. The enthusiastic Brexit supporter and early backer of Ms. A polyglot - he reportedly dares to write poetry in Latin - and a history and music buff, the new Chancellor is little known to the British public: fewer than one in two had heard of him before his appointment, according to YouGov.

New chancellor promises City bosses 'radical' plan for economic growth and smooths over Truss's threat to review Bank's remit.

He added: “We need to be decisive and do things differently. “The prime minister and I are committed to taking decisive action to help the British people now, while pursuing an unashamedly pro-growth agenda.” However, Kwarteng assured them that the government was committed to reducing debt – or at least keeping it on what the Treasury said was a “downward path”.

Kwasi Kwarteng, the UK's new chancellor of the exchequer, said the government will pursue sweeping financial reforms to unleash growth and competitiveness ...