Kwasi Kwarteng, a prominent British Conservative Party politician, has been in the news recently for his decision not to stand for re-election and for his controversial 'mini budget' in 2022, which included unfunded tax cuts that had a significant impact on the UK's economy and reputation. Previously serving as Chancellor, Kwarteng's economic policies have sparked debate and criticism, contributing to the ongoing discourse surrounding the UK's financial landscape.
Born on May 26, 1975, Kwasi Alfred Addo Kwarteng has been the Member of Parliament for Spelthorne since 2010. He assumed the role of Secretary of State for Business, Energy and Industrial Strategy in 2021, showcasing his influence and involvement in key governmental decisions. Kwarteng's political career has been marked by his tenure in various significant positions, shaping his reputation as a notable figure in British politics.
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Our former PM has a dire warning and a book to sell, but it isn’t really cutting through. A bit more Brit-style bumbling might help, says Guardian columnist Emma Brockes
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Tory MPs are reportedly considering a May election to prevent Rishi Sunak from being ousted and to avoid a damaging leadership race.
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Kwasi Kwarteng, former chancellor, announces he will not stand for re-election.
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Labour's shadow chancellor, Rachel Reeves, asserts that Labour will not reintroduce the cap on bankers' bonuses, aligning with the decision made by the Conservative government to lift the cap.
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Revised figures show UK economy shrank between July and September, raising concerns of recession.
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The UK is lifting the cap on bankers' bonuses, a measure introduced in 2014 to curb excessive risk-taking in the financial services industry.
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Chancellor Jeremy Hunt took control of the nation's finances a year ago amid political chaos and turmoil in the financial markets caused by former prime minister Liz Truss's disastrous mini-budget.
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Then-Chancellor Kwasi Kwarteng's 2022 'mini budget' with unfunded tax cuts had a significant impact on the UK's economy and reputation.
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The Commerce Department is releasing its monthly tally of US construction spending and its snapshot of the nation's trade gap.
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Labour pledges to legally bind ministers to consult the OBR on major tax and spending changes, and to allow the OBR to independently publish forecasts and analysis alongside fiscal changes.
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Liz Truss defends her economic policies in a speech at the Institute for Government, blaming the media, opposition Labour Party, and economic orthodoxy for her downfall.
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Liz Truss defends her economic legacy and calls for tax cuts and welfare spending reduction in a speech marking the anniversary of her government's mini-budget.