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Reuters
Reuters
Business
By Sinead Cruise, Alistair Smout and Elizabeth Piper

Challenging 'orthodoxy,' Kwarteng clings on after UK market rout

Kwasi Kwarteng Liz Truss Britain ​​Rishi Sunak Tom Scholar Conservative Party
FILE PHOTO: British Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng visit Berkeley Modular, in Northfleet, Kent, Britain, September 23, 2022. REUTERS/Dylan Martinez/Pool/

As new British finance minister, Kwasi Kwarteng hoped to take down finance ministry groupthink that he and new Prime Minister Liz Truss saw as holding Britain back.

Instead he's seen his first fiscal statement take down the pound, the bond market, his party's reputation for financial credibility and quite possibly his own political career.

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