Rishi Sunak is back in the spotlight after UK Prime Minister Liz Truss resigns
Rishi Sunak, the former Indian-origin chancellor is back in the spotlight and might stage one of the most extraordinary political comebacks in British history, after Prime Minister Liz Truss‘ resignation after only 45 days in office, making her the country’s shortest-serving prime minister.
Rishi Sunak, who ran against Truss in the election for the office of Prime Minister, is expected to supersede at 10 Downing Street. Indeed, the Oddschecker odds aggregator had Sunak as the favourite to succeed Truss as recently as last week.
While former British Prime Minister Boris Johnson’s bid to re-establish the post has left everyone in a bind, sources say that Johnson may have requested ex-Chancellor of the Exchequer Rishi Sunak to withdraw from the contest in order to rescue the party.
According to British media sources, Boris Johnson has urged Sunak to allow him to be Prime Minister in order to salvage the Conservative Party’s face ahead of a second leadership contest in a matter of weeks.
Liz Truss resigned this 20th, putting an end to considerable uncertainty about her future amid economic upheaval caused by her policies. Truss was finally undone by her economic policy, which sent shockwaves through the markets and fractured her Conservative Party barely six weeks after she was appointed.
Truss resigned after 16 Conservative MPs openly asked for her to do so. She announced her resignation in a short statement following a meeting with Sir Graham Brady, the head of the influential backbenchers’ 1922 Committee, which has enormous power behind the scenes in the Conservative Party.
Truss, who is on the far right of the Conservative Party, was stubborn even in her resignation address at the podium outside Downing Street, claiming she had a mandate to implement the drastic measures that had sent the pound and bond markets into a tailspin. “We set out a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit. I recognise, though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative party,” she said.
There was barely the faintest sense of guilt in her statement, and she contended the acts she had done were correct and essential and in the country’s interests.
The key goal that the Conservative Party confronts as the Labour Party gains points despite the Tories’ leadership fiasco is to prevent loss in the 2024 General Elections.
According to a recent YouGov survey of Conservative Party members, Rishi Sunak would defeat Truss if the Conservative Party leadership contest were held right now. If given the opportunity to vote again, 55% would vote for Sunak, while just 25% would vote for Truss.
“With the current political upheaval at Westminster dominating headlines,” the YouGov report noted, “a new YouGov Political Research snap survey of Conservative party members indicates substantial buyer’s remorse among the party membership around their September choice to nominate Liz Truss leader.”
During Truss’ brief and turbulent tenure as President, she announced a significant package of unfunded tax cuts, the most of which had to be reversed after a market crash.
Rishi Sunak, on the other hand, had warned of much of the financial disaster that would result from unfunded tax cuts.
Rishi Sunak reveals his plan for UK economy:
Johnson has stated that he is the sole alternative to preserve the Conservative Party from loss in the 2024 elections. Notably, in the aftermath of Prime Minister Liz Truss’ departure, Johnson’s supporters have asked him to restart a reign that was unexpectedly cut short by a cabinet revolt.
Rishi Sunak, a former finance minister, is suddenly the odds-on favourite, at least according to the bookies.
Next week, there will be a leadership election. Truss will serve as Prime Minister until then.
Opposition parties have also called for rapid elections, noting the ruling party’s declining support despite its overwhelming majority in Parliament. Sir Ed Davey, the Liberal Democrat leader, has also called for a general election. “Another Conservative Prime Minister lurching from crisis to crisis is not what we need. We urgently require a general election to remove the Conservatives from office.” He stated.
According to the reports, Boris Johnson is “pushing Rishi Sunak to reach out and get back together,” calling it “a stunning olive branch following their public falling out.”
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