August 15, 2022
UK PM hopeful Rishi Sunak warns of inflation

UK PM hopeful Rishi Sunak warns of inflation

Rishi Sunak said the immediate tax cuts run the risk of exacerbating the current economic crisis. (file)

London:

The governing Conservative Party may “kiss goodbye” to winning the next UK general election, around 2024, until rising inflation is rapidly brought under control, with Rishi Sunak becoming Tory leader and British premier. The leadership has warned on the campaign trail to win the election. Minister.

The former British Indian chancellor reiterated his previous alert on leadership rival Liz Truss’s policy pledge for an immediate tax cut of around £30 billion as inflation, which risked aggravating the ongoing economic crisis. Mr. Sunak has further lowered his policy tent around tax cuts once inflation is brought under control.

“I am particularly concerned about policies that risk making it worse and longer,” Mr Sunak, 42, said during a campaign event in Eastbourne on England’s south-east coast on Friday evening.

“Because it’s a problem that’s not just for this winter. It’s also a problem for next winter and beyond, because as the Bank of England said they’re worried about inflation being embedded. Then There is no hope that we are he’s going to win the next election. Absolutely not… and if we don’t get a hold of this thing and grab it quickly, we can kiss goodbye to win the next election So, the first thing to put in a winning position is to overcome inflation and get over it quickly and not make things worse,” he said.

Earlier this week, the Bank of England warned inflation – currently 9.4 per cent – could peak at more than 13 per cent and remain at “very high” levels for much of the next year, eventually reaching its 2% in 2024. before returning to the percentage target.

The truce, which has promised to reverse some tax hikes imposed by Mr Sunak as chancellor, challenged the Bank of England’s gloomy forecast.

His own speech in Hastings was briefly interrupted by protesters in Hastings as environmental protesters joined an action by the Green New Deal Rising group at the event, asking the audience one-by-one to say aloud to the wannabe prime minister. To: “Liz Truss, you should be ashamed of yourself.”

Hosting live broadcasts on the Conservative Party’s website were temporarily suspended after the protesters were removed from the hall.

Members of the Tory party carrying both candidate cards are on an intense campaign up and down the UK to win votes, which will be done by postal ballot or online by 2 September. The results will be announced on 5 September, when the new Conservative Party leader immediately takes office at 10 Downing Street.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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