Rishi Sunak is PM

Rishi Sunak made his first official statement yesterday after formally becoming PM and pledged to "unite the country not with words, but actions".

Sunak's appointment heralds a new age, with him becoming the first non white PM, the first British Asian PM and the youngest PM in over 200 years. His speech did not mention any of these records, instead choosing to focus on pledging his efforts to working "day in, day out" for the country. He also went on to emphasise the values of "integrity, professionalism and accountability", which is noteworthy given that he was fined for his involvement in Partygate, the name attributed to the government's lockdown parties.

The Conservatives have rallied round Sunak as he shuffles his Cabinet. He has reiterated his call for the general election to be held in 2024 as opposed to earlier as pushed for by the opposition parties.

Sunak has faced criticism because he has not been voted in by the public or even the Conservative Party's members. Despite this, his statement yesterday highlighted that his premiership will be starkly different from Truss. The plan for the government is to stick to the original manifesto that gave the Conservatives the mandate to govern country in the first place.

Going forward, the pound seems to have risen slightly with the news, as the markets trust Sunak's fiscal caution, having been Chancellor. However, Sunak served during COVID, a time where the economy was in a unique position. It will be interesting to observe long-term how he plans to deal with the mass inflation the UK is facing, as well as the cost of living crisis. He is likely to introduce tax cuts but not as rapidly as Truss, easing the UK into it. The date for the autumn budget was October 31 but now the government has announced that this has been delayed until November 17.

With Sunak being the third PM this year, the Conservatives will be keen to ensure he has party backing, as proven when more than half of their MPs signalled their support for his nomination. The party needs to get behind their leader and focus on putting the country before party politics, as Sunak promised in his speech.

Today, Sunak faces his first PMQs in Parliament. It's now time for the Conservative Party to demonstrate that the public is indeed the priority.

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