Sunak needs to put in place a workable economic policy that can inspire confidence
Yesterday’s emergence of Rishi Sunak as the new United Kingdom Prime Minister is replete with far reaching symbolism and grave challenges. Sunak is the first person of colour to assume the post in the nation. At age 42, he is also one of the youngest to step into those lofty shoes in history. Of Indian descent but born, raised and educated in the UK, Sunak is perhaps the first Prime Minister that can be described as a product of the Commonwealth. These attributes are unique in British history and should equip Sunak for an illustrious domestic and international role.
With a Prime Minister of colour and the Mayor of London, Sadiq Khan, himself a man of colour, we are witnessing an increasing diversification of Britain’s demographics in more important ways. For one thing, Sunak will hopefully walk the international stage as both a genuine British leader and a true citizen of a new diversified and inclusive world. Britain can be assured of more friends abroad and a more united and harmonious populace at home. But by far the more consequential issues that will define Sunak’s tenure are ultimately economic and political in the immediate domestic environment.
On the economic front, the crises of galloping inflation and crushing cost of living require an urgent solution. Similarly, a more sensible budget and tax policy to inspire growth is a matter of grave urgency. It is precisely his predecessor’s incompetent handling of this conundrum that cost her the job and necessitated the rise of Sunak. He will therefore need to quickly put in place a workable economic policy framework that can inspire confidence within the commanding heights of the British economy as well as the international financial markets. Above all, he needs to give hope of imminent relief to the British general populace. More immediately, relief on energy costs and the long-standing crisis in the NHS are crying for immediate attention. The former has been quickened by the continuing effects of restrictions on Russian gas and energy supplies as a result of the Ukraine war.
On the political arena, Sunak comes to office in the context of a clear decline in British political culture. A great deal of the trouble is the internal decay of the Conservative Party itself. It is no tribute to the oldest party in the world that its control of a crisis torn parliamentary majority has produced three Prime Ministers in three months. The divisions within its ranks can no longer be glossed over. Clearly, the Conservative party is divided in rather unhealthy ways. There is therefore an urgent need to quickly reunite the party and invariably the nation itself. Failure to achieve this twin goal in record time will lead to an early general election in which Sunak may have the unenviable legacy of handing over power to the Labour Party or an opposition coalition.
Internationally, Britain’s leadership role in NATO’s engagement on the Ukrainian war remains crucial in getting Vladimir Putin to act more responsibly. Under Boris Johnson, Britain’s leadership in that endeavour was unmistakable and helped strengthen the resolve of President Zelensky in standing up to Russian aggression. But this is also tricky considering the enormity of resources going into the war at a time of dire domestic challenges.
In terms of the historic ties between Nigeria and the UK, King Charles has set the stage on the eve of Sunak’s inauguration. The king expressed genuine empathy with Nigerian communities now submerged by flood. Nigeria whose doctors and nurses are trooping to help the UK’s healthcare system should stand ready to cooperate with the new administration in London for the mutual benefit of both nations. We wish Sunak all the best in his new assignment.
