Business
JAM | Oct 20, 2022

Nigel Clarke vs Kwasi Kwarteng

Al Edwards

Al Edwards / Our Today

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Reading Time: 2 minutes

Tale of the tape

Dr Nigel Clarke, Jamaica’s minister of finance and the public service.

It is Jamaica’s Minister of Finance Dr Nigel Clarke’s birthday today (October 20), and we thought we would take a look at how he stacks up against the United Kingdom’s former Chancellor of the Exchequer Kwasi Kwarteng.

Kwasi Kwarteng, former United Kingdom chancellor of the exchequer.
  Dr Nigel Clarke                                                Kwasi Kwarteng
AGE: 20th October 1971 (51)                                          AGE: 26th May 1975 (47)

FAMILY: Married, two childrenFAMILY: Married to Harriet Edwards, had a daughter last year
EDUCATION: Munroe College, UWI (First Class Honours in Mathematics and Computer Science, Oxford University, MSc in Applied Statistics                                                      EDUCATION: Eton, College, Trinity College, Cambridge- Classics  and History (double-first)

EARLY CAREER: Derivatives Trader in London at Goldman SachsEARLY CAREER: Journalist at the Daily Telegraph and financial a analyst at JP Morgan Chase

POLITICS: Jamaica Labour Party  MP for St Andrew North West                                          POLITICS: Conservative Party MP for Spelthorne in northern Surrey

Senator in the Upper House of the Jamaican Parliament                                                     Business Secretary
Appointed Minister of Finance, March 26th 2018 to present                                                                                          Appointed Chancellor of the Exchequer September 6th 2022. Sacked 14th October 2022 (38 days)


REPUTATION: Fiscal prudence, balancing the books and building surpluses One of Jamaica’s finest ministers of finance.  








RATING: Standard & Poor’s – B+ Stable Outlook Debt –  Debt to GDP- 94% total debt -US$14.5 billion.                                                   		REPUTATION: Unfunded tax cuts and turbo charged growth. One of the shortest terms served as Chancellor in British history.  Ignominious failure.                                                




RATING: Debt to GDP – 97%
 Total debt- 2.4 trillion Pounds



QUOTE: We hear you; we understand your concerns, we share your pain and we remain steadfast in our commitment to act in the best interests of all Jamaicans as we seek to balance lives and livelihoods in the interest of all Jamaicans.QUOTE: Higher taxes on capital and labour have lowered returns on investment and work, reducing economic incentives and hampering growth still further. This cycle has led to the tax burden being forecast to reach the highest levels since the late 1940s-before even Her Majesty acceded the throne. We are determined to break that cycle.”
Tags
chancellor of the Exchequer Kwasi Kwarteng minister of finance Nigel Clarke

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