Kwasi Kwarteng News
09.01 / 14:33
markets
economy
Liz Truss sends 'cease and desist' letter to Starmer over claim she 'crashed the UK economy'
In the letter, lawyers for Truss argued the Labour PM's statement was «false and defamatory», and suggested it was partly to blame for her losing her re-election as MP for South West Norfolk in July 2024. Truss declined to comment and the Prime Minister's office has been contacted for comment. 'Bad news' for Labour as surging gilt yields puts pressure on government's debt management Starmer's claims refer to the aftermath of Truss and former chancellor Kwasi Kwarteng's Mini Budget in September 2022, which sent financial markets spiralling after unveiling major tax cuts funded by bo...
26.01 / 12:19
markets
UPS
Platform
Election
Browser
rights
politician
What are 'bond market vigilantes' and what does this mean in the run up to a UK election?
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22.11 / 17:39
25.10 / 07:47
regulation
UK
CMS
FCA removes cap on bankers' bonuses to mixed reactions
Originally the rules placed limits on bonuses for employees to two times base salary in an attempt by the EU to deter the risky behaviour that led to the 2008 Global Financial Crisis.
31.08 / 08:05
UPS
Provident
MET
Strategy
Forrester
New Fortescue hire Kwasi Kwarteng barred from advising on UK affairs
Kwasi Kwarteng, the United Kingdom’s former chancellor, has been barred from advising his potential new employer, mining magnate Andrew Forrest, about UK energy affairs and lobbying the British government.
29.08 / 19:39
Career
Forrester
country
Inside
UK chancellor
Andrew Forrest offers work to former UK chancellor Kwasi Kwarteng
Andrew Forrest, Fortescue’s executive chairman, who is currently facing questions over high executive turnover at his companies, has offered advisory work to former British chancellor Kwasi Kwarteng.
26.07 / 16:31
17.11 / 12:29
Fallout
Autumn Statement: What to expect from the chancellor
The new chancellor of the exchequer Jeremy Hunt will address UK parliament on 17 November with an Autumn Budget announcement comprising an austerity-filled expected £35bn in tax rises and public spending cuts amounting to around £25bn, according to published reports.
21.10 / 13:09
Why Truss might actually have been right on the economy
As fun as it might be for outsiders to gawk at the political chaos engulfing the UK, Prime Minister Liz Truss’s resignation on 20 October is a sideshow. The bigger problem is that recent events in Britain are an alarming vision of a fate that potentially awaits all of us in developed economies.
18.10 / 10:35
European Union
Protests
European Commission
mistakes
Liz Truss admits budget mistakes and apologises after Jeremy Hunt announces mini-budget U-turn
The UK's prime minister apologised as she admitted her government had made mistakes over the mini-budget last month that spooked the financial markets.
17.10 / 17:51
Banker bonus cap may still be scrapped despite Jeremy Hunt’s U-turn on most of UK mini-budget
New chancellor Jeremy Hunt is set to press ahead with plans to scrap the cap on bankers' bonuses, according to reports, as the future of the surcharge tax on the sector's profits also remains uncertain.
17.10 / 12:11
Culture
poverty
UK Finance
Truss in peril: UK finance minister acts to calm markets as clamour grows for PM to quit
Britain's new finance minister will announce fresh tax and spending measures on Monday morning — two weeks earlier than scheduled — in a bid to quell turbulent markets, the government says.
14.10 / 17:39
UPS
Liz Truss U-turns on plan to scrap corporation tax increase
Prime minister Liz Truss announced a U-turn on the government’s plans to cut corporation tax, shortly after installing new chancellor Jeremy Hunt.
14.10 / 17:35
events
Truss timeline: Key events in three months of political chaos in British politics
UK Prime Minister Liz Truss has been in office for fewer than 40 days but has been forced into a humiliating U-turn on planned tax cuts that formed the core of her economic programme.
14.10 / 17:19
Jeremy Hunt named chancellor after Kwasi Kwarteng confirms sacking as Liz Truss U-turns on corporation tax
Prime Minister Liz Truss named Jeremy Hunt as chancellor after Kwasi Kwarteng said he was asked to resign from the position.
14.10 / 16:53
U.K. Treasury Chief Kwasi Kwarteng Fired Amid Market Pressure
LONDON—U.K. Prime Minister Liz Truss fired Treasury chief Kwasi Kwarteng, in an attempt to salvage her tenure following pressure from her Conservative Party and international markets.
14.10 / 15:25
Chancellor Kwasi Kwarteng confirms sacking in a tweet
Prime Minister Liz Truss has fired Chancellor Kwasi Kwarteng, the Times reported. Kwarteng confirmed the news in a tweet.
14.10 / 15:02
business
NATO
reports
UK Finance
UK finance minister Kwasi Kwarteng to be sacked, according to media reports
The UK is set for its fourth finance minister in as many months amid media reports that incumbent Kwasi Kwarteng will be sacked on Friday.
14.10 / 11:47
pension
gilts
Support
BoE’s Andrew Bailey is playing a high-stakes game over gilts support for pension funds
Nobody comes out of the pensions fund and gilt market debacle looking good. But it appears as if it could be Bank of England governor Andrew Bailey that takes the biggest hit to his reputation (apart from Liz Truss and Kwasi Kwarteng, of course). Bailey has made mistakes, but this loss of credibility may turn out to be unfair.
14.10 / 10:57
tax cuts
Chancellor Kwarteng makes hasty retreat from IMF for crisis talks over planned tax cuts
Kwasi Kwarteng has left Washington and headed back to Downing Street where he is set to address potential plans to either postpone or climb down from the tax cuts announced last month.
04.10 / 13:07
UPS
Provident
Boeing
Mortgage mayhem sparks fears of a housing market crash in Britain
LONDON — There are growing fears of a housing market crash in the U.K., after a swathe of tax cuts announced by the government sent interest rate expectations soaring, driving up lending rates for homebuyers.
facts about Kwasi Kwarteng
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