Rishi Sunak Vows to Fix UK Economy as He Enters Race to Become Prime Minister

Former Chancellor Rishi Sunak has formally entered the race to become Conservative Party leader and UK prime minister, promising to fix the economy and unite the Tory party.

Sunak, who lost to Liz Truss in the last Tory leadership contest just six weeks ago, is making a renewed bid for the top job following Truss’s resignation as prime minister on Oct. 20.

He became the second candidate to enter the race after Penny Mordaunt. Former Prime Minister Boris Johnson has not yet announced his bid, though his ally Secretary of State for Business, Energy, and Industrial Strategy Jacob Rees-Mogg said he is “clearly” going to stand.

In a statement posted on Twitter on Oct. 23, Sunak wrote, “The United Kingdom is a great country but we face a profound economic crisis.”

He said he is standing again because he wants to “fix our economy, unite our party, and deliver for our country.”

Sunak wrote: “I served as your chancellor, helping to steer our economy through the toughest of times. The challenges we face now are even greater. But the opportunities, if we make the right choice, are phenomenal.”

He touted his “track record of delivery” and said he has “a clear plan to fix the biggest problems we face.”

‘Integrity’ and ‘Professionalism’

Sunak stressed he would lead with “integrity, professionalism, and accountability” in an apparent attempt to contrast himself with the last two prime ministers, both of whom exited Downing Street in disgrace.

Truss had no choice but to step down after her entire economic programme based on massive unfunded tax cuts was scrapped following negative reactions from the financial markets, which saw the pound fall sharply against the dollar and borrowing costs rise significantly for both the government and British households.

Truss’s economic woes had been largely predicted by Sunak in the last leadership campaign, during which he called her economic vision “comforting fairy tales” and said her promises of unfunded tax cuts at a time of worsening inflation were irresponsible, dangerous, and un-conservative, predicting that they would lead to surging mortgage rates—a prediction which was later confirmed by the markets.

Johnson was forced to step down as prime minister after the resignation of more than 50 government ministers, following a string of scandals including getting fined by police for attending illegal gatherings in Downing Street during the COVID-19 lockdowns. Sunak’s resignation as chancellor was believed to have been instrumental in triggering the unravelling of Johnson’s government.

But Sunak’s own integrity is not completely untarnished. His reputation was dented earlier this year following disclosures that his wife Akshata Murty, who is the daughter of an Indian billionaire, had a non-domiciled status for tax purposes.

He was also implicated in the “partygate” scandal and was fined, along with Boris Johnson and his wife Carrie, by the Metropolitan Police for attending the prime minister’s birthday party which was held in violation of lockdown regulations.

PA Media contributed to this report.



You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes