Kwarteng replaces Zahawi in Truss’ new cabinet

07 September 2022

Liz Truss, the new prime minister, has started to announce the MP’s who will form her new government cabinet. Kwasi Kwarteng is to replace Nadim Zahawi as chancellor of the exchequer.

Truss has made an abundance of pledges and promises relating to the fiscal future of the country, namely the scrapping of the National Insurance (NI) hike. Other financial policy impacts include energy bills, corporation tax and employment rights.

The impacts on the payroll profession are potentially huge, but more information is needed before we can fully understand how to plan for the future.

The CIPP will keep up to date with the latest developments with the new government, updating you as we know more.


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