The Balancing Act of England’s Economy

Rishi Sunaks first speech as prime minister.

Photo Credit: CNN

Rishi Sunak’s first speech as prime minister.

Sienna Rock, Editor-in-Chief

On October 24th, Rishi Sunak was appointed as the new prime minister of the United Kingdom. Sunak becomes the third prime minister in the United Kingdom within the span of two months, following Borris Johnson and Liz Truss. He will become the first person of color to serve as prime minister, as well as the first one to be appointed by King Charles. 

Before Rishi Sunak got appointed and took office, Liz Truss had served as the prime minister for a short period of six weeks. Truss felt as though she couldn’t take responsibility for all of the economic issues the country was having and that’s why she decided to resign. Truss stated, “I recognize though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to His Majesty the King to notify him that I am resigning as the leader of the Conservative Party.” But how did the United Kingdom reach such a bad economic state that their prime minister had to resign? 

According to TIME, Truss had set up a tax cutting system that ended up back firing and only supporting the wealthy upper class. Her plan ended up shocking the British econmy. Her unsuccessful plan and leadership even led to members of the Conservative Party revolting against her. 

Because of the resignation of Liz Truss, Parliament had to find a new prime minister quickly. The decision was made by Conservative Party MPs (Members of Parliment) and followed with King Charles III appointing him. Sunak plans to bring unity to the Conservative Party, as well as fix some of the economic problems the United Kingdom has created. He stated, “I will place economic stability and confidence at the heart of this government’s agenda.”

One of the first jobs on Sunak’s agenda is picking out a new cabinet. To try and create much needed stability in the party, Sunak’s cabinet was composed of many familiar faces. According to The Washington Post, he filled the most important positions with people who had served on Truss’s cabinet and other political roles. He made the decision to keep Jeremy Hunt as Chancellor of the Exchequer, which is similar to a finance minister. Hunt opposed Truss’s tax plan and immediately abandoned it when he was put in office. James Cleverly, the Foreign secretary, also got to keep his position in the cabinet. These are just a few members of Sunak’s new cabinet, however there were many more appointed.

One of the most notable factors about Rishi Sunak being appointed, is he is the first person of color, of Indian descent and Hindu to serve as prime minister. Not only is he bringing a new viewpoint to the office, but he has also created a sense of pride to other British Asians and Hindus. In fact, he was coincidentally appointed on Diwali, the festival of lights that many followers of Hindusim celebrate. It will be interesting to see what different insights Sunak will bring to the table.

Rishi Sunak will acquire a lot of responsibilities as he becomes prime minister and navigates his way through the U.K.’s current economic problems. He will also bring a new perspective to the position, being the first prime minister of color and Indian descent.