Rishi Sunak lost the Conservative Party leadership race to Liz Truss earlier this month but more and more Britons want him back as UK faces economic challenges. During the leadership race, the Indian-origin former Chancellor Sunak had warned against most of the decisions that the new British Prime Minister Liz Truss has taken.
Videos of the debates have been widely shared on social media asking Rishi Sunak to come back. In one such video, Sunak is heard calling Liz Truss plans on inflation “a fairy tale”.
“Trussonomics”- the changes brought by Liz Truss include tax cuts and higher borrowing which have spooked the markets worldwide and sent the Pound Sterling tumbling against the dollar.
Rishi Sunak's comments during debates with Liz Truss are being considered prophetic . Sunak had reiterated that the government should take a calculated approach to tax cuts and promising financial help to the most vulnerable amid a cost-of-living crisis.
{{/usCountry}}Rishi Sunak's comments during debates with Liz Truss are being considered prophetic . Sunak had reiterated that the government should take a calculated approach to tax cuts and promising financial help to the most vulnerable amid a cost-of-living crisis.
{{/usCountry}}“Liz’s plans are promising the earth to everybody. I don’t think you can have your cake and eat it. I don’t think life is that simple, and I think her plan risks making everything worse,” Rishi Sunak had said at the time.
Financial markets have reacted adversely to the announcement of the biggest tax cuts in UK for 50 years to be paid for by additional government borrowing.
The Bank of England said on Monday that it would "not hesitate" to hike already high-interest rates after the pound hit record lows as the UK inflation is already at its highest in 40 years.