Rishi Sunak Says He Is Standing To Be Next Prime Minister As UK Faces 'Profound Economic Crisis'

In the election held by Conservative party members nationwide, Rishi Sunak lost to Liz Truss in the battle to succeed Boris Johnson in September.

British former Chancellor of Exchequer Rishi Sunak. (File Photo)

Rishi Sunak, the former finance minister of Britain, declared Sunday that he was standing to succeed Liz Truss as the next prime minister of the United Kingdom, news agency Reuters reported.

Taking to Twitter, Sunak stated: "The United Kingdom is a great country but we face a profound economic crisis. That’s why I am standing to be leader of the Conservative Party and your next Prime Minister. I want to fix our economy, unite our Party and deliver for our country.”

The United Kingdom is a great country but we face a profound economic crisis.

That’s why I am standing to be Leader of the Conservative Party and your next Prime Minister.

I want to fix our economy, unite our Party and deliver for our country. pic.twitter.com/BppG9CytAK

— Rishi Sunak (@RishiSunak) October 23, 2022

In the election held by Conservative party members nationwide, Sunak lost to Truss in the battle to succeed Boris Johnson in September.

Prior to making his announcement on October 23, 2022, Mr. Sunak had already gained more backing from Conservative legislators than any of his challengers, Johnson and former defence minister Penny Mordaunt.

In July, Sunak left Johnson's administration, which helped spark a revolt that forced Johnson to relent.

“There will be integrity, professionalism and accountability at every level of the government I lead and I will work day in and day out to get the job done,” he said in a statement.

“I am asking you for the opportunity to help fix our problems." he stated.

In a vision statement that went along with it, Sunak emphasised his experience working in the Cabinet and guiding the economy through some of the most trying moments due to the COVID epidemic.

“The challenges we face now are even greater. But the opportunities — if we make the right choice — are phenomenal. I have the track record of delivery, a clear plan to fix the biggest problems we face and I will deliver on the promise of the 2019 manifesto,” he tweeted.

“There will be integrity, professionalism and accountability at every level of the government I lead and I will work day in and day out to get the job done. I am asking you for the opportunity to help fix our problems,” he added.

Candidates must receive the backing of at least 100 Conservative MPs in order to be included on the ballot, and that deadline is Monday at 2 p.m. local time, PTI reported.

Given the tory House of Commons total of 357 MPs, the shortlist would automatically reduce to two candidates if any one contender crossed the 156-MP threshold before then.

In the event of a three-way tie, MPs will undertake an indicative ballot on Monday to nominate the remaining two candidates for an accelerated online vote by over 170,000 Tory members. The next leader will be chosen by next Friday.

The new leader and prime minister might be in place by Monday evening if the party can internally unify around one candidate.

Several Tory ministers, including past candidates for the party's leadership, Trade Secretary Kemi Badenoch and Security Minister Tom Tugendhat, who had endorsed Truss in the previous contest, have come out in favour of Sunak.

It is an accurate reflection of the resounding backing he received from his peers in July, just after Boris Johnson resigned in the midst of the COVID lockdown partygate controversy.

After losing to Truss in the larger party membership ballot last month, Sunak, the son-in-law of Infosys co-founder Narayan Murthy, lately took a low-key position.

However, his supporters, experts, and media outlets have been quite outspoken in highlighting how much of the economic upheaval that followed Truss' tax-cutting mini-budget was predicted during his campaign and came to pass.

(With Inputs From Agencies)