According to the breaking news, the knot in the political crisis that has been going on for a while in England has been untied. After the resignation of Liz Truss, who was sitting in the prime minister’s seat, it was wondered all over the world who would replace her. While the names of many people were mentioned, one person in particular stood out. Expectations came true in England and Rishi Sunak became the new Prime Minister. Here are the details of the breaking news…
Former Finance Minister Sunak, who struggled to replace Prime Minister Liz Truss, who resigned from the party leadership on 20 October in the country, won the leadership race. Especially the withdrawal of former Prime Minister Boris Johnson from the Conservative Party leadership race paved the way for Sunak. Sunak became the new prime minister with the withdrawal of two candidates from the Conservative Party. “I don’t think it’s the right time,” Johnson said in his statement on the subject. However, Johnson also gave a candidacy signal for the 2024 elections.
On the other hand, Penny Mordaunt, Sunak’s closest rival, withdrew from the candidacy when she could not gather enough support from the deputies. Sunak’s rival, Penny Mordount, announced on Twitter that she withdrew from the leadership race and supported Rishi Sunak. Rishi Sunak was proclaimed the new leader of the Conservative Party and prime minister of the UK, as Mordaunt also withdrew from the race due to lack of support.
Mordount said, “We have now chosen our next Prime Minister. This decision is a historic one and shows once again the diversity and talent of our party. I fully support Rishi Sunak.” used the phrases.
WHO IS RISHI SUNAK?
Rishi Sunak was Britain’s former Finance Minister. Sunak, who was the Finance Minister at the time, criticized Prime Minister Boris Johnson and announced his resignation. Sunak nominated for the leadership race after former British Prime Minister Boris Johnson resigned from the party leadership on 7 July, but was defeated by Liz Truss as a result of the voting.
REQUEST OF LIZ TRUSS
After Truss, who often made the promise of “tax cuts” during the election campaign, took over as prime minister, the government announced on September 23 that it was preparing to implement tax cuts that would amount to 45 billion pounds in total.
This situation increased the expectations that the country’s foreign borrowing would increase and caused the sterling to experience a sharp depreciation.
After harsh criticism of the economic plans, the British government abandoned its plan to abolish the top income tax rate of 45 percent.
Truss, who had been behind the tax cut plan many times before, could not stand the public pressure and dismissed Kwasi Kwarteng as Minister of Finance on 14 October and replaced him with Jeremy Hunt.
Despite apologizing for “mistakes” that caused significant market volatility, British public debate had already begun over how long Truss would remain in office.
Prime Minister Truss announced his resignation on October 20, following the political and economic turmoil in the UK.