Rishi Sunak tackles the most urgent problems facing the UK

On October 25, 2022, Rishi Sunak became the first ethnic Indian to serve as Britain’s prime minister. Ever since former PM Liz Truss resigned from office after just 49 days in office—the shortest length of time a prime minister has served in UK history—Sunak inherited a wide array of economic and financial concerns.

Among the many issues Rishi Sunak faces, a key challenge will be finding a solution to the Energy Price Guarantee—the subsidy scheme to help homes and businesses cope with higher gas and electricity bills. Under his predecessor Liz Truss, the system was set to last for two years. However, Rishi Sunak has expressed doubt about the fiscal fallout from such a decision.

Meanwhile, Sunak had guaranteed that benefits, tax credits, and pensions would rise in line with the current inflation rate of 10.1%. So far, the markets have enlisted their trust in him, lowering government borrowing costs, which could lead to favorable mortgage rates. This means that the government could borrow money and pay less interest.

Another problem facing Sunak would be tackling the ills facing the National Health Service—the UK’s healthcare system. With record numbers waiting for hospital treatment, the threat of strikes over pay, and winter just around the corner, the NHS has never been as short-staffed and underfunded. During the summer, Sunak spoke about waste and bureaucracy, floating the idea of establishing a task force dedicated to eliminating bureaucratic legalese and reducing patient costs. Another issue facing the NHS concerns delayed discharges—patients are ready to leave the hospital but can’t due to a lack of medical personnel in the community.

While the economy in the UK spirals out of control, tens of thousands of workers, including train drivers, dock workers, mail employees, criminal barristers, and telecoms staff, are threatening to go on strike. A vast majority are protesting over the cost of living crisis—wages have not kept up with inflation. To tackle this, the government has introduced legislation intended to curb the unions’ powers, but the priority is likely tackling the root cause of the problem—inflation.

While UK foreign policy towards Ukraine wouldn’t change, unequivocal support for Ukraine among citizens has been waning as rising energy costs have exacerbated the cost of living crisis. Those feeling the brunt may be reluctant to support additional financial packages to Ukraine, especially when the list of domestic problems looms large over the public. Nevertheless, Sunak assured that the UK is committed to defending Ukraine against Russian aggression, stating, “If I become prime minister, I will redouble our efforts and reinforce our policy of total support for Ukraine that Boris has so ably led.”

Amidst a time when his political party, the Conservatives, is deeply unpopular among the electorate, Rishi Sunak has a lot of work to make up for if he wants to tackle the energy crisis, healthcare crisis, and economic crisis at home. If he fails, expect the Conservatives to get shellacked in the next election.