The ‘tory’ already faced Truss after the resignation of Boris Johnson to lead the Executive
As expected, former Finance Minister Rishi Sunak has officially entered the race to succeed Liz Truss. In a statement issued mid-morning on Sunday, Sunak has officially confirmed his candidacy and his aspiration to become the new leader of the Conservative Party and the next prime minister.
“The UK is a great country, but we are facing a deep economic crisis & rdquor ;, Sunak said in a statement posted on Twitter. “I want to fix our economy, unite our Party and serve our country & rdquor ;, he points out. Sunak promises that “there will be integrity, professionalism and transparency at every level of government & rdquor ;, in a clear criticism of the chaos of the Truss administration and also of Boris Johnson, who has not presented his nomination so far. The deadline to do so ends at 2 pm on Monday and each applicant must have the endorsements of at least a hundred conservative deputies. Sunak has comfortably surpassed that number and is the most prominent candidate moving forward, but Johnson could be having a hard time getting the nominations, despite his allies claiming since Saturday that they already have them.
Sunak and Johnson met on Saturday, according to the British media, to explore the idea of a possible alliance and avoid new ruptures and internal confrontations, but no pact was possible. The other contender who has already made her candidacy official is Penny Mourdaunt, president of the House of Commons, with a very small number of endorsements so far.
The United Kingdom is a great country but we face a profound economic crisis.
That’s why I am standing to be Leader of the Conservative Party and your next Prime Minister.
I want to fix our economy, unite our Party and deliver for our country. pic.twitter.com/BppG9CytAK
— Rishi Sunak (@RishiSunak) October 23, 2022
Deputy since 2015 and Minister of Economy from February 13, 2020 until his resignation in July 2022. During his time in government, he was praised for his employment protection plan during the pandemic but was criticized for insufficient aid to citizens before the inflation rampant and a rise in taxes that was later partially reversed. However, his image was damaged after being fined, along with Johnson, for participating in one of the parties who violated the anticovid regulations in the offices of Downing Street. Facts for which he apologized, although he always defended at these parties “he was just passing through”.
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One of the reasons for the fall of Liz Truss after 45 days in office is her failed attempt at drastic tax cuts. That immediacy that the conservative promised to apply was one of the elements that differentiated her from Sunak during the primaries, since the former economy minister said he wanted to cut taxes but only when inflation was controlled.
Before entering politics, Sunak held positions in several financial firms, including the investment bank Goldman Sachs and the venture capital fund The children’s investment Fund Management. In 2010 he joined another fund manager, Theleme Partners, and was a director of Catamaran Ventures, owned by his father-in-law, Indian millionaire NR Narayana Murthy. He has always projected an image of a self-made millionaire, even though he was educated at the elite private school in Winchester and part of his fortune is explained by his marriage to the daughter of an Indian tycoon, Akshata Murtywhose fiscal situation was the subject of controversy.