The British hope that the new prime minister will not get hung up on strong ideas about Brexit or tax cuts like his predecessors. The challenges to restore the credibility of the Conservative Party are enormous.
21:13•Updated 21:26
LONDON Rishi Sunak was appointed prime minister today and the market is thanking. The value of the pound has continued to rise and loan interest rates to fall after he announced his decision to resign on Thursday By Liz Truss the final goodbye was thrown to the national economic experiment.
Liz Truss experienced a stomach drop even faster than those who had failed could have imagined.
As prime minister, he was a market liberal bulldozer who, ignoring extensive warnings, implemented his economic policy based on radical tax cuts, with disastrous consequences.
Rishi Sunak, the runner-up in the summer chairmanship race of the Conservative Party, was one of those who warned about the measures that would increase the national debt.
He shares Liz Truss’s belief in a low level of taxation and a small role for the state, but already as finance minister he showed that he is not bogged down in his opinions. Sunak did not shy away from even moderate tax increases at a time when the corona pandemic cut a notch in the public purse.
A touch of practicality for Britain’s relationship with the EU
At least a touch of practical thinking will also be in store for Britain’s EU relations when Rishi Sunak’s season begins.
Sunak is a supporter of leaving the EU, and, unlike Liz Truss, was also at the time of the Brexit referendum in 2016. However, in order to minimize the economic harm of Brexit, he has called for moderation in EU relations instead of bickering.
Sunak promised today to bring “responsibility, professionalism and honesty” to British politics. These were, of course, Liz Trussia and Boris Johnson towards, but all three would be needed.
In Britain, it has been half-jokingly estimated that at least it is easy for Sunak to be incorruptible thanks to his huge personal wealth. Sunak previously had a lucrative career in finance, but his family is firmly among the super-rich, especially thanks to his wife’s wealth.
Akshata Murty the billionaire father is one of the richest people in India, and the joint assets of the Sunak family are estimated at around 830 million euros.
Of course, the property also raises questions about whether it is worth a couple of hundred euros recently with a coffee mug (you switch to another service) with Sunak, who performed, there is a surface of identification with, for example, the inflation worries of the people.
Sunak is the first non-white prime minister
Sunak’s official inauguration today was a milestone in British politics, as he is Britain’s first non-white Prime Minister of Indian origin and an active Hindu.
Born in Southampton, Sunak’s parents moved to Britain from East Africa.
Sunak’s story of how a family of doctors in Britain created their success and cleared the way for a child to the top of society, regardless of the cost of education, fits the message of the Conservative Party about taking personal responsibility.
However, the most important thing for the British people is the economy. Sunak has resigned from Liz Truss’s politics on the right grounds. However, it is not enough, because inflation is raging in Britain as well and adds to the evidence of EU separation financial disadvantages (you switch to another service) accumulates day by day.
Whether Sunak can restore the people’s trust in the conservatives remains to be seen, because the construction of economic cloud castles from Brexit has been the handiwork of conservative politicians like Sunak. The much-talked-about but little-seen benefits of Brexit, which Sunak promised even today, should be implemented.
In order to succeed, Sunak would also need a touch of luck, because the economic success of Britain is also affected by events outside the country since the war in Ukraine.
Fortunately for Sunak, the deadline for the next general election in Britain is just over two years away.
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