Challenging 'orthodoxy,' Kwarteng clings on after UK market rout

FILE PHOTO: British Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng visit Berkeley Modular, in Northfleet, Kent, Britain, September 23, 2022. REUTERS/Dylan Martinez/Pool/

LONDON (Reuters) - As new British finance minister, Kwasi Kwarteng hoped to take down finance ministry groupthink that he and new Prime Minister Liz Truss saw as holding Britain back.

Instead he's seen his first fiscal statement take down the pound, the bond market, his party's reputation for financial credibility and quite possibly his own political career.