Kwasi Kwarteng appointed chancellor as Liz Truss vows to 'rebuild our economy'

Former BEIS secretary

James Baxter-Derrington
clock • 2 min read

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. The fourth chancellor in three years, Kwarteng will lead the charge in "rebuilding the economy", a promise made in Truss's first speech outside Downing Street. Truss also promised to "get Britain working again", alluding to a growth plan achieved through "tax cuts and reform" and building infrastructure. In the immediate term, the new prime minister reiterated her commitment to dealing with energ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Bank of England meets expectations with 25 basis point rate cut to 4.75%

Bank of England meets expectations with 25 basis point rate cut to 4.75%

'Continued progress' on disinflation

Valeria Martinez
clock 07 November 2024 • 2 min read
'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read