Just a month into the job, British Prime Minister Liz Truss is unlikely to emerge from turmoil within her Conservative Party and financial markets, with her former leadership rival Rishi Sunak downing ten as the odds-on favourite. Return to Street.
At the end of a tumultuous week in British politics, in which Truss sacked his close friend and trusted ally Kwasi Quarteng, who had been implementing his economic policies as chancellor, rebel voices within the governing Conservatives continued. That’s how Sunak warned against most. The financial meltdown would not follow their rival’s tax-cutting policies.
The former British Indian chancellor took a tacit approach as he hosted two pre-scheduled parties at a hotel in central London this week to thank his Ready for Sage leadership campaign team and UK Treasury officials.
“His attitude is part of ‘I told you so’ but more of a sense of sadness. He says: ‘It didn’t have to be,’ a friend was quoted as saying by ‘The Sunday Times.
As the odds aggregator at Oddschecker Bookies shows Sunak running ahead as the favourite to replace Truss, his team is said to be one of the most notable political comebacks in British politics.
According to insiders, the UK-born Indian-origin politician, who lost to Truss in the Tory membership vote after being clearly at the forefront among his parliamentary colleagues, is wholly absolved of any allegations of conspiracy against Truss because he spends time in his constituency.
One of the possibilities being considered by Tory rebels is to unite parliamentarians behind a particular candidate to avoid an entire leadership election. Sunak is not seen as an absolute favourite for this as a staunch loyalist of former Prime Minister Boris Johnson’s camp, who still blames his resignation as chancellor for their leader’s exit in the wake of the Partygate scandal, is unlikely to rally behind them.
However, close allies on both sides indicate that neither of them would be willing to serve as the other’s junior. If Truss agrees to step down, UK Defense Secretary Ben Wallace is a strong contender for unity’s new candidate. Meanwhile, the possibility of Johnson trying his possible comeback hasn’t been ruled out.
On Sunday, the new chancellor, Jeremy Hunt, urged his party to unite behind the truce as “the last thing people want” is another change of leader.
“She’s heard, she’s changed, she’s ready to do the hardest thing in politics, which is to change behaviour,” Hunt said. About his tax-deduction plans.
“As people thought there would be no tax reduction, some taxes would increase. So it will be tough, and I think we must be honest with people about that.”
Hunt, himself an optimist and cynical supporter of a former Tory leadership, denied vying for the top post again and said he was focused on the “huge financial details” for the end of the month; that’s when much of his predecessor’s controversial mini-budgets are set to be reversed.