In Kwasi Kwarteng, Prime Minister Liz Truss has picked an ideological ally as Britain's new finance minister, charging him with tackling a cost-of-living crisis with a tax-cutting, big-spending plan that has worried markets.
The new Chancellor of the Exchequer, Kwarteng, 47, inherits an economy in crisis. It is forecast to go into a long recession later this year, with inflation at a 40-year high and limits on options for boosting growth.
