Sunak Would Put UK on ‘Crisis Footing’ 

Only now he is running for PM, not while he was Chancellor!

What’s changed?

Have the: “We got the Big Calls Right” Tories, really crashed the economy, as some of us fear? – Owl

www.bloomberg.com  (Extract)

Rishi Sunak has said that he would put the UK on a “crisis footing” from his first day as prime minister, as he and Liz Truss bid to woo the Tory grassroots as the leadership contest continues…

….The former chancellor tells The Times that the UK needs to be on a “crisis footing” to deal with inflation and a host of other challenges.

“They’re challenges that are staring us in the face and a business-as-usual mentality isn’t going to cut it in dealing with them. So from day one of being in office I’m going to put us on a crisis footing.

“Having been inside government I think the system just isn’t working as well as it should,” he is quoted as saying.

“And the challenges that I’m talking about, they’re not abstract, they’re not things that are coming long down the track.”

Mr Sunak also hits out at again at the proposed tax cuts lauded by Ms Truss, warning that it could lead to inflation becoming “entrenched” in the British economy.

He said: “What I worry about is the inflation we’re seeing now becoming entrenched for longer.

“That’s the risk we need to guard against. If that happens, it will be incredibly damaging for millions across the UK. The cost for families is going to be enormous.”

He also suggests that the Foreign Secretary’s plans could see interest rates rise, while rejecting the suggestion he is running a so-called “project fear”.

He added: “Imagine what that’s going to do to people’s mortgage rates.

“If we get this wrong, interest rates [will] have to go up even more because of a government that borrowed too much and made the situation worse.

“Anyone who doesn’t take really seriously the fact that inflation is running at the level it is is being hugely complacent about the challenge that is facing this country.

“That’s not project fear, that’s being honest with the country about what is happening and being responsible in saying this is a pressing priority that the government needs to help resolve and not make worse….

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