Stories of the under-fire chancellor’s self-assurance abound. Colleagues see him as unlikely to back down without a fight

In recent years, Bill Gates held a roundtable discussion to which Kwasi Kwarteng was invited as a senior minister.

The billionaire was hosting the meeting, surrounded by high-profile guests. But according to observers, when Kwarteng turned up, he began to act as if he was the one in charge of the meeting “offering his opinion on everything” and “lecturing” Gates about the businessman’s own expert subject. It was “bizarre and embarrassing” to watch, according to one person with knowledge of the episode.

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