UK Prime Minister Rishi Sunak’s severe inflation warning

UK Prime Minister Rishi Sunak's severe inflation warning

Rishi Sunak argues that an immediate tax cut risks prolonging the ongoing economic crisis. (File)


The ruling Conservative Party could “goodbye” to winning the next UK general election, around 2024, unless soaring inflation is brought under control quickly, Rishi Sunak has warned of the road map. campaigned to win the leadership election to become Tory leader and British Prime Minister. Minister, Pastor.

Britain’s former Prime Minister of India reiterated his previous warnings about the policy pledge of leadership rival Liz Truss to an immediate tax cut of around £30 billion because of inflation, which risks protracted ongoing economic crisis. Instead, Mr. Sunak presented his policy around cutting taxes to a lower level once inflation was brought under control.

“I’m particularly worried about policies that risk making it worse and last longer,” Mr Sunak, 42, said at a campaign event in Eastbourne on the southeast coast. England on Friday night.

“Because this is a problem not just for this winter. It’s a problem for next winter and beyond, because as the Bank of England has said it is worried about inflation rising. So there’s no hope that we’ll win that next election Absolutely not… And if we don’t catch this and catch it quickly, then we have We can’t say goodbye to winning that next election. So the first thing to put ourselves in a winning position is to get through inflation and get through it quickly and not do everything. worse,” he said.

Earlier this week, the Bank of England warned inflation – currently 9.4% – could peak at more than 13% and stay at “very high levels” for much of next year, before returning to target 2% by 2024.

Truss, who has promised to reverse some of the tax hikes introduced when Mr Sunak was Prime Minister, challenged the Bank of England’s dismal forecast.

Her speech at the prison was briefly interrupted by protesters at the detention center as environmental protesters joined a Green New Deal Rising group action at the event, one by one. one by one from the audience stood up and said loudly to the Prime Minister: “Liz Truss, you should be ashamed of yourself.”

A live stream of the crowd on the Conservative Party’s website was briefly halted as protesters were removed from the halls.

Both candidates are in the midst of an intense up-and-down UK election campaign for the card-carrying Tory vote, which will be voted on by post or online by September 2. Results will be announced on September 5, when the new Conservative Party leader will be immediately in charge at 10 Downing Street.

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

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