New UK Prime Minister Rishi Sunak has pledged to restore economic stability in a way that is “fair and compassionate” and protects the most vulnerable people in society.
At the Prime Minister’s Questions in the House of Commons on Oct. 26, Labour leader Sir Keir Starmer said the “Tories have crashed the economy” and argued that “working people” should not have to “pay for their mess.”
Alluding to the furlough scheme he implemented as chancellor during the COVID-19 pandemic, Sunak replied: “My record is clear, when times are difficult in this country I will always protect the most vulnerable, that is the values of our compassionate party. We did it in COVID and we will do that again.”
The prime minister acknowledged that the government will “have to take difficult decisions to restore economic stability and confidence.”
But he stressed: “As we did during COVID, we will always protect the most vulnerable.”
“This government is going to restore economic stability and we will do it in a fair and compassionate way,” he added.
Accusing Starmer of telling his party “what it wants to hear,” Sunak said he has been “honest about the difficulties” the UK economy is facing and has been telling “the truth for the good of the country.”
Fiscal Plan Delayed
Earlier, Chancellor Jeremy Hunt announced that the medium-term fiscal plan, which was due on Oct. 31, has now been moved to Nov. 17 so that it can be a full autumn statement based on the “most accurate” economic forecasts.Downing Street confirmed that energy bill support will continue through the winter as previously set out.
But the prime minister’s press secretary said Sunak is not committing to the “triple-lock” on state pensions, which his predecessor Liz Truss promised to stand by.
The press secretary said: “That is something that is going to be wrapped up into the fiscal statement, we wouldn’t comment ahead of any fiscal statements or budgets. But what I can say is he has shown through his record as chancellor is that he will do what’s right and compassionate for the most vulnerable.”
Downing Street also refused to commit to increasing defence spending to 3 percent of GDP by 2030, which Truss had promised.
Sunak’s official spokesman said: “That is something that would need to be set out by the chancellor at a future fiscal event. It will be for the autumn statement.
“No decisions have been made on defence spending or significant spending as is custom ahead of a fiscal event.”
