Rishi Sunak has been a favorite of Conservative MPs and has a good understanding of financial matters as well. In fact, he has been the Finance Minister in the past. In the election for the post of PM, he gave a tough competition to Truss. In the recent elections for the post of PM in Britain, reducing the pressure of inflation on the common man had become a big agenda. In such a situation, Liz Truss became the PM by making tempting promises but her action plan failed. Now, how Sunak will help the general public get rid of all this, it has to be seen.
Earlier, Sunak had tweeted, ‘We have bigger challenges ahead of us. But the opportunities are extraordinary if we make the right choices. I have a track record of work, a clear plan to deal with the biggest problems we face and I will follow through on the promises made in the 2019 manifesto.
Why did Liz Truss resign?
Liz, who was in power for just 45 days, became the Prime Minister of Britain for the shortest time. Truss became the PM in early September only after promising to cut tax. However, when she brought the mini budget on 23 September, the provisions made therein created such a stir in the financial market that the truce had to sack the finance minister. Truss took over as PM on 6 September and on 23 September his finance minister Kwasi Quarteng brought a mini budget, in which a tax cut of 45 billion was said. Taxes were cut by up to 45% for the rich while nothing special for the poor. This caused volatility in the financial markets in the coming weeks.
Why did Liz Truss resign?
The situation got so bad that the Finance Minister had to be removed in a hurry. The new Finance Minister withdrew the budget provisions as soon as he came. This raised questions on the Truss government that neither it could live up to its election promise nor did they have any action plan. After this, the opposition against him intensified within the Conservative Party itself. First Finance Minister, then Indian-origin Home Minister Suella Braverman resigned. What did he resign, openly said that the PM could not live up to his election promise. This completely destabilized the Truss government.
Who is Rishi Sunak, who was once in Boris Johnson’s cabinet and can now replace him
Is the general election the way?
The Conservative Party won the 2019 general election in Britain. Although the general elections are to be held only till 2025, but the opposition Labor Party is demanding mid-term elections. Labor leader Sir Keir Starmer has said a general election is the only way out of this turmoil.