Prime Minister Liz Truss has appointed Kwasi Kwarteng as the country’s new finance minister.
Kwarteng is known for overseeing the government’s business, energy and industrial strategy department, which has been supporting blockchain innovation since 2021.
Prime Minister Liz Truss Selects Kwarteng
UK Prime Minister Liz Truss has named Kwasi Kwarteng as the country’s new finance minister.
The ruling Conservative Party elected Truss as the new leader of the party and prime minister of the country the other day.
The previous prime minister, Boris Johnson, had to resign under pressure from both the opposition and the ruling party.
Truss took action to choose his cabinet soon after he became prime minister.
Kwarteng was among those who supported Truss’s campaign. Kwarteng currently works as the secretary of state for business, energy and industrial strategy. In his new role, Kwarteng will have to deal with high inflation and economic recession.
Former Finance Minister Rishi Sunak had expressed plans to transform the country into a crypto hub before stepping down in July. Whether Kwarteng will adopt such a mission is a question mark.
However, in a June 2021 report, Kwarteng described blockchain systems as “one of seven technologies that will transform the economy in the future.”
