Can the youngest prime minister lead the UK out of trouble?

  On October 25, local time, 42-year-old Rishi Sunak officially took office as the British Prime Minister, becoming the youngest British Prime Minister in the past 200 years and the first Indian Prime Minister.

Sunak said he would make repairing the economy a top priority.

Analysts generally believe that Sunak may be able to clean up the "mess" left by Truss, but it may not be easy to lead the UK out of economic difficulties.

  Sunak delivered a speech after taking office, saying that the UK is facing a "huge economic crisis" and that the new government's focus is to stabilize the economy and restore confidence.

The term of the current parliament will end in December 2024. According to regulations, Sunak can rule until the next parliamentary election.

  The cabinet formed by Sunak maintained strong continuity and stability.

Among them, Jeremy Hunt remains as Chancellor of the Exchequer, Ben Wallace remains as Defence Secretary, James Cleverley remains as Foreign Secretary, former Home Secretary Sulla Braverman is re-elected as Home Secretary, Dominic Raab Deputy Prime Minister and Minister of Justice.

  Sunak's four months have been dramatic since he resigned from Johnson's cabinet in July this year and became the first person to oppose Johnson, to now occupying 10 Downing Street unopposed.

  On July 5, Sunak voluntarily resigned as Chancellor of the Exchequer in Johnson's cabinet, and bluntly lost confidence in Johnson.

The move sparked a wave of resignations from Johnson's government officials, which resulted in Johnson being forced to resign on July 7.

  Since then, Sunak has joined the Conservative Party leadership race and led the way among many candidates until he was defeated by Truss in the final round of Conservative Party votes.

After Trus took office as prime minister, he launched a large-scale tax cut plan with great fanfare, which caused market turmoil, and the exchange rate of the pound against the dollar once hit a record low.

In the face of crisis and pressure, Truss first changed the chancellor of the exchequer, and finally resigned himself.

  After Truss resigned, the Conservative Party once again launched a new round of leadership elections.

This time, Sunak became the only candidate to win the support of more than 100 Conservative MPs within the stipulated time, thus being directly elected as the leader of the party without a vote.

  Many analysts pointed out that Sunak's rich financial experience is the main reason for his support of Conservative MPs.

Before entering politics, Sunak worked in the financial industry.

After being elected to MP in 2015, Sunak rose rapidly and was promoted to Chancellor of the Exchequer by Johnson in 2020.

During his tenure, he led the Ministry of Finance to provide huge financial support for the British economy to prevent mass unemployment caused by the new crown epidemic, so he received a lot of praise.

  As early as when he first ran for the leadership of the Conservative Party, Sunak referred to Truss' tax cuts as "fairy tale economics".

The British media believe that Sunak pursues a prudent and conservative economic policy. It is expected that in the medium-term fiscal plan scheduled to be announced in November, Sunak will take measures to reduce spending and increase taxes, thereby "correcting" the mistakes made by Truss.

  For Sunak, however, the biggest challenge is getting out of inflation and avoiding recession.

  The UK consumer price index (CPI) rose 10.1% year-on-year in September, still at a 40-year high, according to the Office for National Statistics.

Meanwhile, UK gross domestic product fell 0.3% month-on-month in August.

Several agencies predict that the UK economy will fall into recession in 2023.

  In the context of high inflation, especially soaring energy prices, the cost of living of the British people has increased sharply.

More than 2 million households in the UK fell behind on their electricity bills in the second quarter of this year, according to the UK's energy regulator.

In order to save money, many British families choose to turn on the stove less and buy less clothes in winter.

A large number of British businesses have gone bankrupt because of soaring energy prices.

Citing data from a research firm, Reuters reported that the U.K. consumer confidence index was close to a record low in October.

  Since his resignation as finance minister in July, Sunak has not proposed specific policies to deal with the current crisis, except that he will raise taxes.

If he cuts the energy subsidy program, it may increase the burden on the public.

This winter will be a severe test for Sunak.

  Analysts have pointed out that in addition to economic challenges, Sunak is also facing pressure from the Conservative and Opposition parties.

  Sunak was considered a "traitor" by Johnson's supporters due to his resignation from Johnson's government.

The election of the leader of the Conservative Party this time, Sunak has not been voted by Conservative Party members.

To make a difference in the future, Sunak must unite the Conservative Party on his side.

  With Johnson and Truss stepping down one after another, the Conservative Party's public opinion rating has continued to decline.

The latest polls show the opposition Labour Party has a lead of about 30 percentage points over the Conservatives.

The Labour Party, the Liberal Democrats, and the Scottish National Party have all accused the Conservative government of calling for an early election without a popular vote.

Although Sunak said that there will be no early election, once he fails to solve the economic crisis, the Conservative Party's ability to govern is bound to face greater doubts.

(Bi Zhenshan Workers Daily)