Sunak referred to these as “people’s priorities,” and vowed to “work night and day” to deliver for the British people.
In his first major speech of the new year, UK Prime Minister Rishi Sunak pledged to halve inflation and boost the country’s economy.
Sunak made five pledges in his speech on Wednesday: halving inflation, growing the economy, reducing national debt, reducing hospital waiting lists, and stopping illegal migrant boats from crossing the English Channel, according to Xinhua.
Sunak referred to these as “people’s priorities,” and vowed to “work night and day” to deliver for the British people.
He stated that his government will cut inflation in half this year in order to reduce the cost of living and provide people with financial security.
Annual inflation in the United Kingdom fell to 10.7 percent in November 2022, down from 11.1 percent the previous month, according to official figures.
The Bank of England (BoE) stated in November that it expected the country’s consumer price index (CPI) to fall sharply after the middle of 2023.
Sunak promised to create better-paying jobs and opportunities across the country in order to grow the economy. This, however, may prove to be a difficult task.
According to the Office for National Statistics (ONS), the UK’s GDP will fall by 0.3% in the third quarter of 2022.
The Bank of England also warned that the country’s economy will remain in recession throughout 2023 and the first half of 2024, and that GDP will only gradually recover after that.
Sunak’s fiscal policies have always prioritised debt reduction since assuming office in late October.
Chancellor Jeremy Hunt announced a package of tax increases and spending cuts in his Autumn Statement in an attempt to improve the public finances and restore the country’s economic credibility.
Sunak’s fourth pledge promised that the National Health Service (NHS) waiting lists would be reduced and people would receive needed care more quickly.
According to the British Medical Association (BMA), a record 7.21 million people will be waiting for medical treatment in the UK in October 2022.
The Prime Minister also promised new legislation to limit the arrival of migrants in “small boats” on the country’s coast.
“If you enter the country illegally, you will be detained and quickly removed,” he said.
According to official figures cited by The Times, a record 45,756 migrants crossed the English Channel to the UK last year.
Sunak also stated in his speech that he intends to ensure that all students in the country study math until the age of 18.
He claimed that the UK was one of the few countries in the world that did not require children to study math up to that age.
“Improving education is the nearest thing to a silver bullet. It is the best economic policy, the best social policy, and the best moral policy,” the Prime Minister went on to say.
