The newly-appointed Chancellor Kwasi Kwarteng is under sharp focus today as he unveils his highly-anticipated 'mini budget' amidst the cost of living crisis and recession. In a bid to deliver Liz Truss ' ambitions for economic growth, Kwarteng is set to announce sweeping tax cuts that critics claim will aid the rich far more than the poor, with national insurance, corporation tax and stamp duty all set to be reduced.
Kwarteng has been a long-time ally of the prime minister, and landed the job just three weeks ago after Liz Truss beat Rishi Sunak in the Tory leadership contest. The Chancellor's connection to fiscal policy is no surprise, as his father was an economist. Mr Kwarteng followed the footsteps of most politicians as we went to Eton College before studying classics and history at the University of Cambridge.
