Kwasi Kwarteng feels ‘partially responsible’ for Conservative Party’s election struggles
Kwasi Kwarteng has admitted he feels “partially responsible” for the Conservative Party’s struggles this election.
Former chancellor Kwasi Kwarteng to stand down at next election
Kwasi Kwarteng, the former chancellor, has announced that he will leave parliament at the next general election. Kwarteng, who represents the Spelthorne seat in Surrey, said he had told his constituency association yesterday that he would not stand at the next contest. In a post to X (formerly Twitter) today, he said: “Yesterday I informed […]
Kwasi Kwarteng says autumn statement measures ‘reminded me of Gordon Brown’
Reacting to the autumn statement delivered by the chancellor yesterday, Kwasi Kwarteng suggested that Jeremy Hunt’s “tinkering” with “micro measures” reminded him of Gordon Brown. In an article for the Telegraph, Kwarteng broadly welcomed the autumn statement, calling it “a tentative step in the right direction”. However, he added that “the Prime Minister’s critics may […]
Liz Truss and Kwasi Kwarteng take divergent paths as they battle with ‘mini-budget’ legacy
Days after Liz Truss announced her resignation outside No 10, she reportedly told allies: “I lost a battle, but I haven’t lost the war”. The Trussonomics conflict duly rolled on this week, with its lead foot soldier marching stateside — not for the first time — to advance the core tenets of her tax-cutting creed. […]
Kwarsi Kwarteng sacked following morning meeting with Truss
Having flown back to the United Kingdom early this morning for crisis talks with the prime minster, the Chancellor Kwarsi Kwarteng has been sacked by the prime minister. Mr Kwarteng last night cancelled meetings that were scheduled for today at the IMF in New York to board a late night flight back to London. In […]
‘This is a British crisis made in Downing Street’ says Rachel Reeves
Shadow Chancellor Rachel Reeves says the current economic situation is a “British crisis made in Downing Street”. She adds that “no other government around the world has sabotaged its own economic credibility as UK ministers have done.” “Are the chancellor and the PM the last people left on Earth who actually think their economic plan […]
Chancellor says he has ‘contrition’ as he reverses plans to cut 45p rate of income tax
The new chancellor Kwasi Kwarteng has confirmed that the government has cancelled plans to abolish the 45p rate of income tax on those earning over £150,000. Speaking on the BBC Radio 4 ‘Today’ programme this morning, Mr Kwarteng said, “On the 45p rate, it is very simple, we talked to a lot of people around […]
Truss and the mini-Budget: Does she stick or twist?
Britain is reeling from the fall-out of last week’s mini-budget, as the government’s economic rebalancing project, code-named ‘Operation Rolling Thunder’, continues to take relentless damage from market forces. On Wednesday, central bankers scrambled to panic stations in an attempt to ward off a vicious spiral of a crashing currency, rising interest rates and weaker growth. […]
IMF urges government to rethink fiscal policy
The International Monetary Fund has taken aim at the mini budget unveiled last week by new Chancellor Kwasi Kwarteng, and which in turn has led to a further sharp decline in the value of sterling. Commenting on last week’s mini budget, an IMF spokesman said, “Given elevated inflation pressures in many countries, including the UK, […]
Rupa Huq loses the Labour whip after calling the chancellor ‘superficially black’
The Labour MP for Ealing Central and Acton, Dr Rupa Huq has this afternoon been suspended from the parliamentary labour party after she was recorded calling the new Chancellor of the Exchequer, Kwarsi Kwarteng, ‘superficially black’. Amongst other comments Dr Huq is reported to have told delegates about the Chancellor, that ‘if you hear him […]
