What could Rishi Sunak do as PM

Rishi Sunak's first statement after being named as next PM

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The speeded up run-off coming so soon on the back of the last race for No 10 meant MPs were left looking back to the promises he made over the summer. Top priority will be steadying the economy after a turbulent few weeks of market upset.

Current Chancellor Jeremy Hunt has drawn up plans that Mr Sunak can use if he wants the government to stick to the October 31 date for the financial statement setting out how debt will be brought down over the next few years.

The new PM has not said if he intends to reinstate the 1.25 per cent hike in national insurance that he created to pay for NHS backlogs but Ms Truss announced would be reversed by November 6.

Campaigners fear the change of premier also throws the triple lock into doubt again just days after Ms Truss overruled Mr Hunt to protect it this year.

The ex-Chancellor suspended it for one year in the wake of the covid pandemic and would save £5 billion by blocking its return. 

Tories have also been at odds over whether to link next year’s rise in benefits to inflation with an announcement expected within weeks.

One of the biggest decisions he faces is the future of the energy bills support package. 

The new premier set out plans to cut VAT on bills and give targeted help to the most vulnerable during the summer but inherits from Liz Truss a multi-billion six month package that holds down the cost to customers.

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