“We have been colleagues and friends for many years. In that time, I have seen your dedication and determination. I believe your vision is the right one.”-Kwasi Kwarteng
The UK politics and finance are inadvertently in news these days. Amidst the crisis and chaos and resignations around, UK has been blanketed under the financial pressures and with the country’s first Black finance minister Kwasi Kwarteng facing a humiliating exit, after the mini budget debacle, a lot remains unanswered.
But before we debate further into the news, lets take a look into a short intercept on Kwasi Kwarteng life and more.
Born to an economist and a lawyer in London, his father was an immigrant from Ghana. Kwarteng studied in Britain’s most prestigious schools Eton, and later moved on to study in University of Cambridge and from the University of Harvard. His first stint in politics began with his role as an energy minister.
Kwasi Kwarteng became the second shortest serving head of chancellor having been sacked off his Finance Ministry post by Liz Truss. As a close friend and an ally to Truss, Kwarteng shared her vision of running the country on a low-tax agenda which vowed to challenge “Treasury orthodoxy”. Kwarteng’s devout belief in liberal economics made him the obvious choice to carry out Truss’s plans, despite that he did not have any experience to run the huge finance ministry.
In his resignation letter, Kwarteng made it clear that Truss had requested his departure, and was unapologetic for their shared vision for Britain’s economy. “We have been colleagues and friends for many years. In that time, I have seen your dedication and determination. I believe your vision is the right one” Kwarteng wrote to Truss.
Will UK seek a relief from this fall out or desolution continues, time has to answer.
Source: Reuters, AFP(via news18)