Britain’s new Prime Minister Liz Truss named business and energy secretary Kwasi Kwarteng as finance minister; her office announced on Tuesday.
Kwarteng, a Truss ideological ally, has stated that her government can afford to borrow more to fund energy bill assistance for households and businesses, but that it will remain fiscally responsible with the public finances.
He had been the business and energy minister since January 2021, having previously held a junior position in the department and working in the Brexit ministry.
Like Truss, Kwarteng has expressed admiration for former Prime Minister Margaret Thatcher but has demonstrated some pragmatism in applying those principles in previous government roles.
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The honour of a lifetime to be appointed Chancellor of the Exchequer by our new Prime Minister, @trussliz
This evening, we’ve been finalising our package of urgent support to help with energy bills, with an announcement this week. pic.twitter.com/srLWIqnw5P
— Kwasi Kwarteng (@KwasiKwarteng) September 6, 2022
Source: Reuters
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