Within an hour of his meeting with King Charles III, the new UK Prime Minister Rishi Sunak began fulfilling his vow that “work will begin immediately.” Prior to the introduction of his new cabinet, a number of Liz Truss’s team of ministers were requested to resign. By evening, Jeremy Hunt was appointed finance minister, and Dominic Raab was named deputy prime minister.
Four ministers have already been requested to resign thus far. According to insiders, these include Development Minister Vicky Ford, Work and Pensions Secretary Chloe Smith, Justice Secretary Brandon Lewis, and Business Secretary Jacob Rees-Mogg.
Former Deputy Prime Minister for Former Prime Minister Boris Johnson, Dominic Raab, will also assume the position of Secretary of State for Justice.
Jeremy Hunt, who took over for Kwasi Kwarteng, will continue serving as the finance minister, the Prime Minister’s official twitter account announced.
Suella Braverman, the secretary of state for the home department, was also named by him. The conservative interior minister resigned last week due to a minor infraction of official regulations.
Mr. Sunak pledged to put “economic stability and competence” at the forefront of his government’s agenda in his first speech as prime minister. He described his election as a measure to address the “mistakes” of his predecessors, saying “Trust is earned and I will earn yours.”
Mr. Sunak added that his administration will fulfill its commitment to a stronger NHS (National Healthcare system), better schools, safer streets, support for the armed services, leveling up, and job creation. He had stated that it will have “ethics, professionalism, and accountability at every level.”
The UK is currently experiencing a severe economic downturn that is heading straight into a recession. The Conservative party has been under fire for allegedly doing nothing to resolve the issue.
Liz Truss, who served as Mr. Sunak’s predecessor, resigned last week after her mini-budget, which included a sizable portion of unfunded tax cuts, frightened the markets. The economic turmoil was unaffected by Jeremy Hunt’s U-turn, who she appointed after firing Kwasi Kwarteng.
On concerns about rising debt, bond rates soared and the pound fell to a record low against the dollar. Although Mr. Sunak’s takeover had somewhat stabilized the situation, Mr. Hunt had spoken of “tough decisions” in the coming days.
The sentiment was shared by Mr. Sunak in his speech today. But he said that “compassion” would be used to temper it.
“During Covid, you witnessed me doing everything in my power to safeguard individuals and organizations by implementing plans like furlough. There are limitations, and they are more apparent than ever. But I swear to you that I’ll apply the same compassion to the difficulties we confront right now “said he.