Kwasi Kwarteng appointed chancellor as Liz Truss vows to 'rebuild our economy'

Former BEIS secretary

James Baxter-Derrington
clock • 2 min read

Kwasi Kwarteng has been appointed Chancellor of the Exchequer as Liz Truss takes on the mantle of prime minister.

Following the results of the Conservative party election revealed on Monday (5 September), Truss has been assembling a cabinet in order to address the magnitude of problems facing the nation. The fourth chancellor in three years, Kwarteng will lead the charge in "rebuilding the economy", a promise made in Truss's first speech outside Downing Street. Truss also promised to "get Britain working again", alluding to a growth plan achieved through "tax cuts and reform" and building infrastructure. In the immediate term, the new prime minister reiterated her commitment to dealing with energ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why higher bond yields aren't causing a Mini-Budget meltdown

Why higher bond yields aren't causing a Mini-Budget meltdown

'One thing we know about Rachel Reeves is she will live or die by her fiscal rules'

Laith Khalaf
clock 07 October 2025 • 5 min read
City 'has lost sympathy with this Labour government' - George Osborne

City 'has lost sympathy with this Labour government' - George Osborne

Former chancellor defends the OBR

Michael Nelson
clock 01 October 2025 • 3 min read
Labour remains 'unequivocal in our commitment to economic responsibility' - Chancellor

Labour remains 'unequivocal in our commitment to economic responsibility' - Chancellor

Rachel Reeves was speaking at the Labour Party conference

Linus Uhlig
clock 29 September 2025 • 3 min read