How Rishi Sunak will help the sinking economy of the United Kingdom

Prime Minister of the United Kingdom Rishi Sunak is tasked with undoing the damage done by Lizz Truss in a matter of days.

Prime Minister of the United Kingdom Rishi Sunak is tasked with undoing the damage done by Lizz Truss in a matter of days. The falling British economy views Sunak as its saviour. He made history when Conservative Party endorsed his leadership to become Britain’s first non-white, British Asian Prime Minister. At 42, he is also Britain’s youngest Prime Minister in over two hundred years.

Sunak’s selection as the first man of colour to become Prime Minister of the United Kingdom is seen as the Obama movement in the United States when Barack Obama became the first person of colour to become President at the age of 48.

The British economy is in shambles, and at the highest inflation rate of four decades, the pound has plunged dangerously against the US Dollar, and in September 2022, it dipped to the lowest level ever. The food prices in the United Kingdom skyrocketed at the fastest pace in more than forty years, and the cost of living crises has also hit all parts of the country as wages have remained low. The increased interest rates also sparked rage between the public, investment bankers and also among businessmen.

One of the important questions that are coming is how Rishi Sunak will benefit the economy without pushing any extra burden on the general taxes. He recently announced that every person would save at least £200 this winter on energy bills if there is a reduction in Value Added Tax (VAT). The announcement comes as the country is bracing for energy bills to increase if the government doesn’t provide more support.

While Sunak is favouring the general public with his new policies, former Prime Minister Lizz Truss supported the energy companies, adding that the profits should not be considered dirty or evil. Notably, energy companies got massive profits in recent months, despite the soaring prices for the general public.

Rishi Sunak also plans to overturn the mini-budget announced by Liz Truss that destabilized her government. Besides handling the increased energy bills, Sunak has indicated to form policies to bring down the government debt. He is also expected to plug an approximately £40bn hole in the public finances.

Besides this, he also plans to ensure the unity of all four regions of the United Kingdom, such as England, Scotland, Wales and Northern Ireland and fulfil their differing demands by solving the problems that they face.

With the economy being the top priority, Sunak will also work to sort out domestic issues such as low economic growth, spiralling inflation, surging prices, labour shortages, mounting debt and the cost of living. He has also promised many tough economic measures that will be introduced soon. Sunak has assured the people to adopt a compassionate approach.

Prime Minister Rishi Sunak also plans to attract private investments to revive the economy by steadying the pound with more diversified decisions. He also plans to find paths to restore trade relations with Europe.

Admin Admin

Published by
Admin Admin

Recent Posts

India: Kashmir’s Gulmarg makes first glass igloo restaurant

A glass igloo restaurant in the middle of the snow-covered mountains in Gulmarg has gathered… Read More

9 mins ago

India: PM Narendra Modi launches Winter Games, lauds Kashmiri sports star

Prime Minister Narendra Modi announced that the government of India launched the Winter Games in… Read More

42 mins ago

Dominica to host final matches of U13 and U17 in Football tournament on Jan 30

The finalists in both the 13 and under and U17 Division of the Sports Division… Read More

3 hours ago

Dominica: SunRise is back for Real Mas 2023, ASA BANTAN to perform

SunRise- Mas An Lawi has returned to the shores of the Commonwealth of Dominica with… Read More

4 hours ago

Saint Lucia: Two matches played in Domestic Cricket Tournament on Jan 28

The 2023 Gros Islet Domestic Cricket Tournament, sponsored by District Representative Kenson Casimir continued on… Read More

5 hours ago

Saint Lucia: 2023 Gros Islet Domestic Cricket tournament hosts 50 over side game

The 2023 Gros Islet Domestic Cricket Tournament, sponsored by District Representative; Kenson Casimir, continued on… Read More

6 hours ago

Kathy Di Paolo: Famous Instagram influencer and digital nomad

Kathy Di Paolo founded Wanderers Wealth, an international tax consultancy service for travellers. Kathy is… Read More

6 hours ago

Dominica set to host Amnesia Band 2023, Melissa Skerrit invites bands to register

The Commonwealth of Dominica is all set to host Amnesia Band 2023- Crazy Mess featuring… Read More

22 hours ago

Saint Lucia announces results of matches in 2023 Gros Islet Domestic Cricket Tournament

Saint Lucia announced the results of the matches of the 2023 Gros Islet Domestic Cricket… Read More

1 day ago

Gilgit-Baltistan faces financial crisis, deterioration of constitutional identity: Reports

Gilgit-Baltistan has been facing a serious financial crisis and deterioration of its political and constitutional… Read More

1 day ago