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Britain’s New Chancellor Zahawi Inherits a UK Economy on the Ropes

  • Nadhim Zahawi replaces Sunak who resigned on Tuesday
  • UK faces weak growth outlook, fastest inflation in 40 years
Nadhim Zahawi
Nadhim ZahawiPhotographer: Chris J. Ratcliffe/Bloomberg
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Britain’s new Chancellor of the Exchequer, Nadhim Zahawi, signaled he wants to cut taxes faster than his predecessor Rishi Sunak, as he set out plans to boost the UK’s struggling economy. 

Zahawi said he is “determined to do more” on cutting taxes in a Sky News interview Wednesday, just hours after accepting his new post following Sunak’s dramatic resignation. A 10 Downing Street official, speaking on condition of anonymity, said the government hopes they’ll be able to do more immediate tax-cutting with Zahawi in post compared to Sunak.