Britain's first black 'chancellor': Who is Kwasi Kwarteng?

SON OF THE COLONIAL SECRETARY: KWASI KWARTENG

Ghanaian Kwasi Kwarteng was appointed Chancellor of the Treasury and began his tenure in charge of finances.

He was born in London in 1975 to a Ghanaian family, a former colony of England.

His mother was a judge during the colonial period, and his father was a representative. When Ghana gained its independence in the 1960s, they fled to London.

Kwasi Kwarteng's father, Alfred Kwarteng, served as the General Secretary of the British Dominion, Britain's colonial establishment.

Kwasi Kwarteng, who studied at Eton College and Cambridge University, which are among the most distinguished institutions of the country, is known for his advocacy of neo-liberalism and his words "There is no need to exaggerate, you need to approach calmly" about British colonialism. Kwasi Kwarteng, who is also against labor unions, advocates that giant companies and millionaires pay less taxes. A strong supporter of tax amnesties.

After graduating, he worked as a columnist for the conservatively-leaning Daily Telegraph, as Boris Johnson once did, before moving to banking as a financial analyst at the American investment firm JP Morgan.

He returned to Cambridge in 2000 to complete his PhD in economic history.

In 2010, he was elected to the House of Commons as an MP from the Conservative Party.

He gained a reputation as a rising star among his colleagues.

During this period, he wrote several books on topics such as former Conservative leader Margaret Thatcher and British imperialism.

He was also one of the authors of Britannia Unchained. Britannia Unchained is a publication that can write that British workers are “among the worst idlers in the world.”

Kwarteng's long-awaited promotion came in 2017. He was eventually made private secretary of parliament to then-Chancellor Phillip Hammond.

Since then, he has steadily climbed the political ladder, taking on the role of general secretary in the Department of Business, Energy and Industrial Strategy.

Now, as chancellor, Kwarteng finds himself responsible for a ailing UK economy beset by rising inflation and a cost of living crisis.

In an open letter published by the Financial Times prior to his appointment as chancellor, Kwarteng said the Truss administration had "two immediate responsibilities": helping individuals and businesses facing "severe price shocks", including sharp increases in gas and electricity bills, and boosting economic growth. increase.

“It takes action to get families and businesses through this winter and next,” he wrote, adding that it is imperative to “lay the foundation” for long-term change.