Rishi Sunak entered No.10 Downing Street yesterday with an in-tray that few Prime Ministers would envy. With the economy on the rocks, and the Conservative poll rating in the doldrums, Sunak will need to demonstrate action straight away to turn the page on a chaotic six months in politics.
Sunak’s speech on the steps of Downing Street, as expected, was serious, polished, impressive, and demonstrated the differences between himself and his predecessor.
He paid tribute to Liz Truss but was clear that she had made mistakes and he would be drawing a line under her reign. Sunak has the credibility to criticize the mistakes of the previous Prime Minister and easily dissociate himself from them, given his stark warnings about the threat of inflation and unfunded tax cuts to the economy, over the summer leadership election.
As a result, Sunak was clear that ‘economic stability and confidence’ would be at the heart of his agenda, with limits to public spending but compassion demonstrated at the same time.
Read EGA UK's latest briefing for an analysis of Sunak's first address as Prime Minister, as well as a review of Sunak's in tray and newly appointed cabinet.