LONDON (Reuters) – Rishi Sunak is widely believed to be Britain’s next prime minister after his rival Boris Johnson withdrew from the campaign. After one of the most tumultuous times in British political history, he admitted that the party could no longer be united.
Sunak, the 42-year-old former finance minister, could soon be named leader on Monday, succeeding Liz Truss and becoming Britain’s third prime minister in less than two months.
Billionaire ex-hedge fund boss says he will rebuild Britain’s financial reputation by slashing it in recession dragged by skyrocketing energy, food and mortgage rates will face the most difficult set of challenges.
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He will also bounce from crisis to crisis in recent months, leading a country deeply divided along ideological lines and increasingly angry at the actions of its politicians.
“The UK is a great country, but we are facing a serious economic crisis,” Sunak said in a statement announcing his candidacy on Sunday.
First, he must defeat the contest’s final candidate, Penny Mordaunt, who is fighting to secure the support of 100 lawmakers to participate in Monday’s vote. As Speaker of the House of Representatives, Mordaunt has the endorsement of about 25 politicians to date. Over 150 people support his Sunak.
If she didn’t reach the threshold, Sunak would become Prime Minister. If she participates in the vote, party members will pick a winner on Friday.
“He doesn’t take anything for granted,” Home Secretary Grant Shaps, a snack supporter, told BBC television. “He’s been talking to his colleagues all this morning, and of course he’s hoping to collect enough numbers to make sure this gets resolved.”
Citi economist Benjamin Navarro said he was skeptical of the government’s legitimacy to manage the current economic challenge. His first job is to present a budget to fill the financial black hole, due on October 31st.
“The weekend’s political intrigue shows that the party is plagued by divisions. said Navarro.
party unity
Investors are at least given reassurance that Mr Johnson won’t be in contention for leadership again. I rushed home from vacation to see if I could participate in the vote.
He said Sunday night that he had gained enough support but realized that he would not be able to govern effectively “unless we have a unified party in parliament.”
Johnson has had a significant impact on British politics over the years. He led his party to a landslide victory in his 2019 election, but was kicked out of Downing Street less than three years after a string of scandals.
“Boris bottled it up,” the Metro said on its front page, with many MPs questioning whether Boris had actually secured the support of the 100 MPs he needed. More than one person said they would vote for Johnson.
Many of Johnson’s supporters had previously accused Johnson of betraying him after he resigned as Minister of Finance over the summer, sparking a rebellion that ousted him.
Mr. Sunak first came to public attention at the age of 39 when he became finance minister in Johnson’s government. That was just when the COVID-19 pandemic arrived in the UK and he developed a furlough scheme to support millions through multiple lockdowns.
If elected, the former Goldman Sachs analyst would become Britain’s first Indian prime minister.
His family moved to England in the 1960s. During this period, many people from the former British colonies arrived to help rebuild the country after World War II.
After graduating from Oxford University, he attended Stanford University where he met his wife, Akshata Murthy. His wife Akshata Murthy’s father is Indian billionaire NR Narayana Murthy, founder of outsourcing giant Infosys. He also worked as an analyst at Goldman Sachs.
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Written by Kate Holton, edited by Angus Maxwan
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