According to a statement released on Tuesday by Liz Truss’ office, Kwasi Kwarteng, the current business and energy secretary, has been named the new finance minister.
Truss’ ideological ally Kwarteng has stated that while her administration can afford to borrow more money to support individuals and companies with their energy expenses, it will still be accountable to the public purse.
He previously held a subordinate position in the department before being appointed business and energy minister in January 2021. He also served in the Brexit ministry.
Similar to Truss, Kwarteng has acknowledged his love for former British Prime Minister Margaret Thatcher, but he has also demonstrated some pragmatism in applying those ideals to his prior positions in government.
