Rishi Sunak Pledges to Clean Up Former PM Liz Truss’ Mess

Rishi Sunak recently made his first speech as prime minister of Britain, promising to lead the country through an economic crisis and rebuild confidence. The address came after 44 days of turmoil for former PM Liz Truss after her “mini-budget” economic policies sparked chaos in financial markets.

While speaking outside his new Downing Street residence, the new prime minister said he was ready for the upcoming challenges as the U.K. races rapidly toward a recession. “I want to pay tribute to my predecessor Liz Truss…But some mistakes were made. Not born of ill will or bad intentions. Quite the opposite, in fact, but mistakes nonetheless, and I have been elected as leader of my party and your prime minister, in part, to fix them…I will place economic stability and confidence at the heart of this government’s agenda. This will mean difficult decisions to come.”

Sunak, a 42-year-old former hedge fund boss, has only been in elected politics for seven years. The relative newcomer is tasked with bringing an end to the feuding and infighting in Westminster, which has alarmed international allies and worried investors.

“I am not daunted. I know the high office I have accepted, and I hope to live up to its demands. But when the opportunity to serve comes along, you cannot question the moment, only your willingness. So, I stand here before you, ready to lead our country into the future.”

As the Conservative Party’s popularity wanes, Sunak is expected to dramatically slash spending to plug a public finance $45 billion hole. The gap has created higher borrowing costs, a six-month support program for the public’s energy bills, and an economic slowdown.

Investors and economists claim Sunak’s appointment will calm the market while warning he has few easy actions when millions across the U.K. are battling a cost-of-living crunch.

Sunak says he vows to put the public’s needs above politics amid mounting anger at the crises that have gripped Britain since the 2016 Brexit referendum.

Sunak warned not to deviate from the party manifesto

Political experts warn that Sunak should stay within the policy manifesto that swept the Tories into power in 2019 when the then-leader Boris Johnson pledged to invest heavily in the country.

After Truss’ resignation, some cabinet ministers have already resigned, including justice minister Brandon Lewis and business minister Jacob Rees-Mogg. However, finance minister Jeremy Hunt is expected to remain in his post.

As Great Britain’s first leader of color and youngest prime minister in over 200 years, Sunak has warned colleagues the country faces an “existential crisis” if they don’t see the country through soaring inflation and record energy bills which have forced many to cut back on spending.