#UK Kwasi Kwarteng: from Eton prefect to Britain's tax-slashing first black Chancellor #UKnews

#UK Kwasi Kwarteng: from Eton prefect to Britain’s tax-slashing first black Chancellor #UKnews

#UK Kwasi Kwarteng: from Eton prefect to Britain’s tax-slashing first black Chancellor #UKnews

Kwasi Kwarteng took a scythe to taxes for tens of millions of Britons right this moment after being handed the hardest job in Government simply weeks into his tenure as Chancellor.

Like his predecessor Rishi Sunak he has been handed an financial disaster of seismic proportions earlier than the ink on his new enterprise playing cards has even dried.

In Mr Sunak’s case it was the the Covid pandemic in 2020. For Mr Kwarteng it’s how to  get UK PLC out of an power worth and inflation gap dug by Vladimir Putin and his invasion of Ukraine.

To achieve this Mr Kwarteng right this moment unveiled the largest raft of tax cuts in half a century in an occasion which regarded very very like an emergency Budget, even when the Treasury was cautious to keep away from calling it one.  

Mr Kwarteng 47, will want to preserve to his mantra of MSH – Make Sh*t Happen – if he’s to assist the UK develop its means to restoration. 

The avowed free marketeer right this moment launched a swathe of tax cuts and different financial levers he and Prime Minister Liz Truss will hope will see off the worst predictions for Britain’s instant future. 

The new Chancellor could also be a famend brainbox with a PhD in financial historical past from Cambridge University, however he doesn’t at all times have the solutions. When he appeared on University Challenge in 1995, he buzzed in response to a query a couple of donkey, solely to declare to quizmaster Jeremy Paxman: ‘Oh f***, I’ve forgotten.’

As if it weren’t unhealthy sufficient the first time, after racking his brains, he added: ‘Oh f***’, once more.

Bungling BBC producers failed to discover the 19-year-old classics scholar’s muttered swearing, and so they have been broadcast to the nation.

And so it was that Mr Kwarteng first got here to nationwide consideration in an article on web page three of The Sun headlined ‘Rudiversity Challenge’.

But undergraduate Mr Kwarteng had the final snicker as his workforce from Trinity College Cambridge gained each stage and went on to be topped the 1995 champions of University Challenge.

He might be hoping his successful streak continues – after Liz Truss appointed him to the Treasury amid a few of the hardest financial situations in residing reminiscence.

The former Business Secretary, who has a house on the identical Greenwich road as Ms Truss, has moved in subsequent to her in No11 along with his solicitor spouse Harriet, and their younger daughter.

#UK Kwasi Kwarteng: from Eton prefect to Britain's tax-slashing first black Chancellor #UKnews

Like predecessor Rishi Sunak, Kwasi Kwarteng he has been handed an financial disaster of financial proportions earlier than the ink on his new enterprise playing cards has even dried.

Harriet Edwards

Kwasi Kwarteng

The former Business Secretary, who has a house on the identical Greenwich road as Ms Truss, has moved in subsequent to her in No11 along with his solicitor spouse Harriet Edwards, and their younger daughter.

Mr Kwarteng was born in east London to Ghanaian mother and father who moved to England as college students within the Nineteen Sixties.

Charlotte Boaitey-Kwarteng, 78, is head of 12 Square Chambers, which is predicated in Holborn in north London and specialises in human rights, immigration and public legislation.

A profile on-line tells how her ‘journey to the Bar as a black girl within the Eighties concerned overcoming prejudice’ from different members of the authorized occupation.

His father, Alfred, was an economist with the Commonwealth Secretariat. 

They first despatched him to a state major college in Waltham Forest, earlier than transferring to the personal prep college Colet Court in Richmond, west London. 

Mr Kwarteng then gained a scholarship to Eton, the place he was thought to be considered one of its brightest pupils and was a prefect – recognized within the college as a praeposter.

He went on to research at Cambridge University, the place he learn classics and historical past. He later earned a PhD in financial historical past from the identical college in 2000. His doctoral thesis was on the ‘recoinage disaster of 1695-7’. 

After unsuccessful tilts at Parliament and the London Assembly he gained the secure Surrey seat of Spelthorne in 2010 and has held it ever since.

The new Chancellor Kwasi Kwarteng is a close friend of Liz Truss, so close that he lives 350 yards away in Greenwich

The new Chancellor Kwasi Kwarteng is a detailed buddy of Liz Truss, so shut that he lives 350 yards away in Greenwich

Harriet attended Cheltenham Ladies’ College, whose illustrious alumnae embody the aromatic Mary Archer, fashionista Amanda Wakeley and former minister Amber Rudd, which whom Mr Kwarteng beforehand had a relationship.,

After graduating from Trinity College, Dublin, in History and Modern Languages, she labored for auctioneers Christie’s in Geneva after which UBS funding financial institution in New York, earlier than qualifying as a solicitor. 

She labored as a senior affiliate at accountancy agency PriceWaterhouseCoopers, specialising in advising ‘people and households’ about ‘succession planning and asset safety’, notably ‘household owned companies’.

His political profession has not been with out controversy. In 2012 he and 4 different Tory members of the 2010 parliamentary consumption revealed a ebook that branded British staff ‘among the many worst idlers on the earth’ and demanding the brand new coalition authorities do extra to promote ‘exhausting graft’.

The ebook, Britannia Unchained – Global Growth and Prosperity, questioned whether or not Britain’s political system ‘has the need to really sort out our debt’. 

In it, Mr Kwarteng and 4 different future ministers – Priti Patel, Dominic Raab, Chris Skidmore and the brand new PM Ms Truss – criticised the welfare dependency tradition and the younger Britons who ‘want a lie-in’ and go away powerful jobs to immigrant labourers. 

It warns that the nation is being dragged down by a bloated public sector, poor productiveness, years of extreme spending, too little development and more and more massive public sector pension liabilities.

The most controversial passage argues {that a} bloated state, excessive taxes and a beneficiant welfare system, have fuelled laziness.

‘Once they enter the office, the British are among the many worst idlers on the earth,’ the ebook says. ‘We work among the many lowest hours, we retire early and our productiveness is poor.

‘Whereas Indian children aspire to be doctors or businessmen, the British are more interested in football and pop music.

‘Too many people in Britain, we argue, prefer a lie-in to hard work.’The MPs urged the coalition to copy the tradition of a piece ethic in South Korea, Singapore and Hong Kong.

‘Britain will never be as big as China or Brazil, but we can look forward to a new generation, ready to get to work,’ the MPs mentioned.

‘If we are to take advantage of these opportunities, we must get on the side of the responsible, the hard- working and the brave. We must stop bailing out the reckless, avoiding all risk, and rewarding laziness.’

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