New Prime Minister Nadim Zahwi promises to curb inflation and exclude borrowing for tax cuts on Tuesday as a sign that his predecessor Rishi Sunak’s fiscal policy will continue.
Zahawi, in his first speech since his appointment, Sunak’s radical review of post-Brexit financial regulations to ensure that the UK remains “one of the most dynamic financial centers in the world.” I also support the plan.
Snacks resigned earlier this month in protest of Prime Minister Boris Johnson’s differences in leadership style and economic policy, especially Johnson’s allegations of tax cuts.
Zahawi was swiftly drafted on behalf of Sunak, but the new Prime Minister, in his Mansion House speech in London, argues that tackling inflation remains the government’s top priority.
“The country should be confident that it can curb inflation, and it can curb inflation,” he says.
“That means providing sound finances to avoid further boosts in demand and helping households to cope with the worst price increases across generations.”
Zahawi’s term as prime minister can be short-lived. The new prime minister will take office by September 5, and is likely to appoint their own choice as prime minister.
During the interim period, Zahawi’s condominium house speech shows that the snack policy will continue not only in its efforts to combat inflation, but also in the review of city regulations.
Read what Zahawi says here..