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New UK Finance Minister Zahawi inherits faltering economy, soaring inflation - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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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.

Britain's new Finance Minister Nadhim Zahawi.

A stand-off over trade rules for Northern Ireland could yet lead to increased barriers for British exports to the bloc. Inflation hit a 40-year high of 9.1% in May and the Bank of England has forecast it will top 11% in October.

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