The two contenders to succeed Boris Johnson as the United Kingdom’s Prime Minister are Liz Truss and Rishi Sunak. The campaign’s final public act took place this Wednesday in London, as Conservative Party primaries moved toward their conclusion with the winner to be announced next week.
Rishi Sunak, who has served as Foreign Secretary and previously as Chancellor of the Exchequer, arrived at Wembley Arena in the capital as the clear favorite among party members. He outlined his policy proposals for tackling the cost of living crisis and answered questions from the public, presenting a plan that he believes would restore stability and growth to the economy.
Approximately 160,000 eligible Conservative members have been able to cast their votes since early August, with the franchise remaining open until Friday. The selection of the new Tory leader is a pivotal moment for the party as it seeks to chart a path forward in uncertain economic times.
The winner will be revealed at an event in London on Monday, followed by an official handover to Queen Elizabeth II on Tuesday. The ceremony is slated to take place at Balmoral, the Queen’s summer residence in Scotland, marking a significant transition for the leadership as the country faces ongoing economic pressures.
Both candidates used the final event before the vote to address the looming economic downturn projected by the Bank of England and rising inflation, with analysts warning that inflation could rise sharply in the coming year. The campaign duplicates a sense of urgency as the country contemplates the path to recovery and stability amid a difficult fiscal climate.
The new leader will be tasked with guiding the nation through this deep crisis and may face the need to call a general election before January 2025. Should an election occur now, polls suggest the Labour Party could gain power, reflecting public sentiment amid ongoing economic concerns.
Truss has indicated she would reverse plans to raise corporate tax as part of her effort to curb the debt incurred by pandemic relief programs. She argues that higher taxes would deter investment and growth, and she favors measures aimed at boosting productivity and business confidence rather than constraining economic expansion.
She also proposed policies intended to prevent disruptions in essential services, including transport, by addressing labor disputes that have intermittently paralyzed rail services during recent strikes. Her stance centers on balancing fiscal responsibility with support for households feeling the pressure from rising prices and stagnant wages.
Sunak, who helped fashion the relief measures during the height of the coronavirus restrictions, emphasized that his program is rooted in what people actually need rather than what they want to hear. He stressed the importance of reducing public debt and maintaining a cautious but growth-oriented approach to fiscal policy, underscoring his commitment to shielding vulnerable families while ensuring long-term economic resilience.
In his remarks, Sunak argued that depleting the country’s credit capacity would be misguided and irresponsible, portraying such a move as incompatible with conservative principles when it comes to safeguarding the nation’s financial future. He asserted that his plan would address inflation, provide targeted support to those most in need, and protect the next generation’s economic prospects.