Kwasi Kwarteng

Akwasi Addo Alfred Kwarteng, born on May 26, 1975, in London to Ghanaian immigrant parents, embarked on a distinguished academic and professional journey before entering politics. He pursued his education at prestigious institutions, attending St Paul’s Juniors, Eton College, and the University of Cambridge, where he earned a double first-class degree in classics and history from Trinity College in 1993. His academic achievements continued with a year as a Kennedy Scholar at Harvard University and a PhD in economic history from Cambridge in 2000, focusing on the recoinage crisis of 1695–97. Prior to his political career, Kwarteng worked as a columnist for The Daily Telegraph and as a financial analyst for firms including JPMorgan Chase and Odey Asset Management. He also authored several books, including ‘Ghosts of Empire’ (2011), ‘War and Gold’ (2014), and ‘Thatcher’s Trial’ (2015), demonstrating an early engagement with historical and economic analysis.

Kwarteng’s political career began with an unsuccessful bid for the Brent East constituency in the 2005 general election. However, he was elected as the Conservative Member of Parliament (MP) for Spelthorne in 2010, a position he held until 2024. During his time as a backbencher, he co-authored politically focused books such as ‘After the Coalition’ (2011) and ‘Britannia Unchained’ (2012). His progression within government saw him appointed Parliamentary Under-Secretary of State for Exiting the European Union in 2018 under Theresa May. Following Boris Johnson’s premiership, Kwarteng served as Minister of State for Business, Energy and Clean Growth from 2019 to 2021, before being promoted to Secretary of State for Business, Energy and Industrial Strategy in January 2021, where he focused on areas including climate change and energy security. He eventually became Chancellor of the Exchequer in September 2022 under Liz Truss, a role he held for 38 days.

His tenure as Chancellor was marked by the controversial “mini-budget” of September 2022, which introduced significant tax cuts. This fiscal event led to market turbulence and widespread criticism, contributing to his dismissal in October 2022. Despite this, Kwarteng’s career highlights his consistent involvement in economic and political policy-making at the highest levels. He announced in February 2024 that he would not seek re-election as an MP in the upcoming general election, concluding a notable chapter in British politics.