New UK PM Rishi Sunak warns of’very painful decisions’ to address deep economic crisis.
- On Wednesday, Britain’s newly appointed Prime Minister Rishi Sunak cautioned that his government will have to make “extremely painful decisions” but promised compassion while addressing the “deep economic crisis.”
- Sunak, Britain’s first Indian-origin Prime Minister, assumed office on Tuesday with a promise to correct Liz Truss’ “mistakes” that caused a government financial black hole and market turbulence.
- A read-out from Sunak’s first cabinet meeting stated that “economic stability and fiscal sustainability would be at the centre” of his government’s objective.
- “This morning I spelled out to Cabinet the great task we face, and why I am sure that this administration can rise to the challenge and deliver for the whole UK,” Sunak tweeted.