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/)

Four years after gaining his first junior role, the Eton-educated MP takes hold of the purse strings in the Treasury.

Mr Kwarteng was a passionate advocate for leaving the EU and joined the campaign. But it was his backing for Boris Johnson to become leader of the Conservative Party that ensured his promotion to business minister in 2019, and then to secretary of state for the department in January 2021. But his close friendship with Ms Truss - with the pair even becoming neighbours on the same street in Greenwich - has secured him a spot not only in the Treasury, but in history as the first black chancellor of the UK. However, being an MP did not stop his other pursuits, and in 2011 he had three books published in the space of a month - including a book on the legacy of the British Empire, "Ghosts of Empire". He went on to get a first class degree in classics and history at Trinity College, as well as being a member of its winning University Challenge team - although dropping an F-bomb during the show got him in a little hot water and on the front-page of The Sun. He was a high achiever, being awarded the Harrow History Prize in 1988 - a prize George Orwell once missed out on - and soon he headed to Eton College as a King's Scholar, meaning he was awarded a scholarship due to his impressive exam results.

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.

Kwasi Kwarteng will use his first morning as chancellor of the exchequer to meet the chief executives of Barclays, NatWest and other major high street banks ...

The new chancellor who has been unafraid of upsetting his party](https://news.sky.com/story/who-is-kwasi-kwarteng-the-new-chancellor-who-has-been-unafraid-of-upsetting-his-party-12690759) [Liz Truss appoints top team - with Kwasi Kwarteng made chancellor](https://news.sky.com/story/liz-truss-appoints-top-team-with-kwasi-kwarteng-as-chancellor-12691228) [Who is Kwasi Kwarteng? The bosses of Britain's biggest banks will hold talks with the new chancellor on Wednesday as he tries to exert a grip on the stalling UK economy.

Who is Kwasi Kwarteng? The University Challenge-winning Chancellor who has a close bond with Liz Truss. Analysis. The new head of the Treasury will aim to end ...

Whether they will succeed is widely expected to dictate their chances of survival in the next general election. And for those closest to him, it was always a surprise that it had taken until 2021 for him to secure a full Cabinet position given his reputation for being one of the biggest brains in the party. His rise to the second highest office in government marks a significant turnaround for a politician who as recently as the spring was earmarked as being in line for a reshuffle out of the Cabinet.

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

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.