LONDON, July 5 (Reuters) – Britain’s new finance minister Nadhim Zahawi takes the reins of an economy struggling under the strain of nearly double-digit inflation and a slowdown that looks set to be more severe than in most of the world’s other big nations.
Like his predecessor Rishi Sunak, Zahawi will face pressure to spend more and cut taxes from lawmakers in Prime Minister Boris Johnson’s Conservative Party who have been stung by a slump in the party’s popularity.
The former education minister – who co-founded opinion polling firm YouGov before entering parliament – will also be expected to play a key role in settling the still-unfinished business of Brexit with Britain and the European Union.
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A stand-off over trade rules for Northern Ireland could yet lead to increased barriers for British exports to the bloc.
The International Monetary Fund forecast in April that Britain…
