LONDON (AP) — Rishi Sunak faced opposition in parliament for the first time as Britain’s prime minister on Wednesday, vowing to restore economic stability after his predecessor’s tax plans sparked market uproar.
Sunak further tore up his predecessor Liz Truss’ landmark policies, reinstating a moratorium on fracking for shale gas that Truss had lifted. Plans for large-scale deregulation of the economy, part of Truss’ vision to unleash economic growth, are also under consideration, Sunak’s spokeswoman said.
Sunak, who took office on Tuesday, has appointed a government that mixes allies with experienced ministers from the administrations of his two immediate predecessors, Truss and Boris Johnson, as he tries to tackle the Great Britain’s multiple economic problems. -Brittany. One of its first acts was to delay a key economic statement for more than two weeks, until November 17, so that the government could use the most accurate forecast possible as it seeks to tackle the global crisis. Cost of life.
“We will have to make tough decisions to restore economic stability and confidence,” Sunak told the House of Commons. “We will do it fairly.”
“I will always protect the most vulnerable. We did it in COVID and we will do it again,” he said.
Opposition politicians focused on the baggage of his new government: ministers from Johnson’s cabinets – who resigned in July after a series of ethics scandals – and Truss, whose government only lasted seven weeks.
A package of unfunded tax cuts that Truss unveiled last month spooked financial markets with the prospect of ballooning debt, drove the pound to record highs and forced the Bank of England to intervene , weakening Britain’s fragile economy and shattering Truss’ authority within the Conservative Party.
Sunak is seen by the Tories as a pair of safe hands they hope can stabilize an economy sliding into recession – and stem the fall in the party’s popularity.
Sunak brought in people from different wings of the Conservative Party for his Cabinet. He removed a dozen members of Truss’ government, but kept several figures in place, including Foreign Secretary James Cleverly and Defense Secretary Ben Wallace.
He faces backlash for reappointing Interior Minister Suella Braverman, who quit last week after violating ethics rules by sending a sensitive government email from a private account. She used her resignation letter to criticize Truss, hastening the then Prime Minister’s departure.
A right-wing Tory leader who infuriates the Liberals, Braverman is tasked with carrying out a controversial and stalled plan to send asylum seekers arriving in Britain one-way to Rwanda.
Sunak has denied an allegation by Labor leader Keir Starmer that he made a “dirty deal” with Braverman in exchange for his support in the leadership race.
Opponents expressed astonishment that Braverman could return to work less than a week after his resignation and before an investigation into his breach of ethics rules.
Sunak said he was happy Braverman was returning to government. he said she “made an error in judgment but she recognized it, she raised the issue and she accepted her mistake”.
Sunak has also kept in place Treasury chief Jeremy Hunt, whom Truss appointed two weeks ago to stabilize markets. Its withdrawal would probably have triggered new tremors.
Hunt, who had planned to make a statement on October 31, will now have a few more weeks to outline the government’s plans to find billions of pounds (dollars) to fill a fiscal hole created by soaring inflation and a gloomy economy, and exacerbated by the destabilizing plans of Truss.
Cabinet minister Michael Gove, brought back into government by Sunak after being sacked by Johnson and sidelined by Truss, said it was time for the Tories “to get back to government business in a low-key fashion”.
“After 12 turbulent months, after a buffet of news, an all-you-can-eat story extravaganza… the boring is back,” he said during a speech in London.
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