Who is Kwasi Kwarteng?
KWASI KWARTENG was appointed as Chancellor by Liz Truss in September 2022 and he has since been fired from the role.
Here is everything we know about his life and time as Chancellor.
Who is Kwasi Kwarteng?
Kwasi Kwarteng was the first Chancellor of the Exchequer, under Liz Truss.
He has since been sacked as Chancellor by the Prime Minister.
Kwarteng's political career began when he was elected the Conservative MP for Spelthorne in 2010 and he has steadily climbed the parliamentary ranks since then.
During his political career, he has had several roles in government, including, Secretary of State for Business, Energy and Industrial Strategy from January 8, 2021, until September 6, 2022.
He worked in the Department for Exiting the European Union from November 16, 2018, to July 24, 2019.
Read More on Kwarteng
Prior to working in politics, Kwarteng was a columnist at The Daily Telegraph newspaper and a financial analyst at JPMorgan Chase.
He is a Trinity College, Cambridge, graduate in classics and history and earned a PhD in economic history in 2000.
Kwarteng is also an author and has published several books including Thatcher’s Trial: Six Months That Defined A Leader and Ghosts Of Empire: Britain's Legacies In The Modern World.
How long did Kwasi Kwarteng spend as chancellor?
Kwarteng was Chancellor under Liz Truss for just over five weeks.
He was appointed Chancellor on September 6, 2022 and he was sacked from the role on October 14, 2022.
He initially replaced Nadhim Zahawi who had stepped into the role in July 2022, after Rishi Sunak announced his resignation and entered the Tory Leadership contest.
Most read in Politics
What has Kwasi Kwarteng said?
After he was fired from the role of Chancellor, Kwarteng posted a statement to his Twitter account.
It reads: "Dear Prime Minister, you have asked me to stand aside as your Chancellor. I have accepted. When you asked me to serve as your Chancellor, I did so in full knowledge that the situation we faced was incredibly difficult, with rising global interest rates and enegery prices. However, your vision of optimism, growth, and change was right.
As I have said many times in the past weeks, following the status quo was simply not an option. For too long this country has been dogged by low growth rates and high taxation -- that must still change if this country is to succeed.
the economic environment has changed rapidly since we set out the Growth Plan on 23 September. In response, together with the Bank of England and excellent officials at the Treasury we have responded to those events, and I commend my officials for their dedication.
It is important now as we move forward to emphasise your governments commitment to fiscal discipline. The Medium-Term Fiscal Plan is crucial to this end, and I look forward to supporting you and my successor to achieve that from the back benches.
We have been colleagues and friend for many years. In that time I have seen your dedication and determination. I believe your vision is the right one. It has been an honour to serve as your first Chancellor.
Read More on The Sun
Your success is this country's success and I wish you well.
Kwasi Kwarteng."