Rishi Sunak has warned of 'difficult decisions' ahead as his government grapples with a 'profound economic crisis', in his first speech as prime minister. BBC London’s Political Editor bbctimdonovan has the low-down on what it means for London. More:
Ms Truss became prime minister after defeating Mr Sunak in a ballot of Tory members during the summer, winning over members with her tax-cutting economic agenda.
"But some mistake were made," Mr Sunak said. "Not born of ill will or bad intentions, quite the opposite, in fact. But mistakes nonetheless. He gave no details about what those decisions were, but how to fund support for energy bills, and bring down government debt, are likely to be among them.Image source,The economic challenges ahead for Mr Sunak loomed large in his speech, which he delivered in a solemn tone, outside his new residence at Downing Street.He reminded the public of his decisions when he was chancellor during the Covid-19 pandemic, including the furlough scheme to help employers pay their staff.
The 42-year-old former hedge fund boss, who has only been an MP for seven years, enters office at a time when his party is cratering in the polls. Mr Sunak reflected on Mr Johnson's "incredible achievements" in his speech, but downplayed his sole ownership of the party's 2019 election victory. But Liberal Democrat leader Sir Ed Davey said Mr Sunak's refusal to call a general election showed his party "does not trust the British people", who "will be rightly furious that they have been denied a say".
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