To start the “hard task” of mending the economy, UK PM Sunak summons his cabinet.
The preparation for a fiscal statement, which the financial markets are eagerly awaiting, will be at the top of Sunak’s agenda.
Wednesday marks the first time that British Prime Minister Rishi Sunak will meet with his newly selected cabinet. Sunak assumed office on Tuesday with a pledge to correct his predecessor’s faults and stabilize the economy.
The preparation for a fiscal statement, eagerly awaited by the financial markets and due for October 31 but maybe delayed by a few days, will be at the top of Sunak’s agenda.
Foreign Minister James Cleverly told Sky News that he did not have a “precise confirmation” of the date when asked about the announcement’s schedule, which is anticipated to outline how the government will close a budget gap of up to 40 billion pounds ($45.88 billion).
Naturally, Sunak will want to spend some time working on the specifics of that, Cleverly added. “We are conscious of the urgency. People, as we know, like certainty. We are aware that citizens desire more information about the government’s plans.”
After Liz Truss’ brief tenure as prime minister was marred by disarray, Sunak took over as leader. On Tuesday, Sunak decided against appointing a new finance minister but did name a cabinet that represented a variety of political viewpoints from inside the Conservative Party.
The opposition Labour Party immediately criticised his choices, focusing on the reinstatement of legislator Suella Braverman as interior minister less than a week after Truss fired her for a security breach.
As the third prime minister of Britain this year, Sunak faces a formidable list of issues in addition to the economic crisis, such as how to mend and rebuild a party that has been torn apart by months of scandals and disputes.
The prime minister’s new cabinet will work hard to serve the interests of the British people, according to a source in his office at Number 10 Downing Street.
Sunak will debate opposition Labour Party leader Keir Starmer for the first time during Prime Minister’s Questions, the weekly highlight of politics in parliament, at noon (1100 GMT).
