Rishi Sunak, the former finance minister, is the betting favourite. He will be competing against Liz Truss, the foreign minister, as well as Sunak’s replacement, Nadhim Zahawi, in what is sure to be a contentious election.
A big task awaits the next British leader, and surveys indicate that support for the Conservatives is dwindling. As citizens struggle with the tightest financial squeeze in decades, Britain’s economy is confronted by skyrocketing inflation, massive debt, and lacklustre growth. All of this is taking place against the backdrop of a severe energy shortage that has been made worse by the conflict in Ukraine and driven up fuel costs.
Sunak began his campaign by positioning himself as the serious one, pledging “grown-up” honesty and “not fairy tales,” in an effort to set himself apart from the significant tax cuts most of the other candidates had promised.
Penny Mordaunt, a junior trade minister who is also highly anticipated, came in first place in a survey of Conservative party members and has attempted to use a more temperate approach when discussing taxes, arguing that it is not the right time to reduce government spending.
The other candidates who will compete in the first round of the election are Attorney General Suella Braverman, the former health and foreign minister Jeremy Hunt, Tom Tugendhat, the head of the parliamentary foreign affairs committee, and Kemi Badenoch, a former junior minister who is gaining support from the right wing of the party.
Grant Shapps, the transport secretary, was the first contender to withdraw, endorsing Sunak, while Priti Patel, the home secretary (interior minister), stated she would not run.
Nadine Dorries and Jacob Rees-Mogg, two politicians close to Johnson who have also criticised Sunak, supported Foreign Secretary Truss.
The field will shortly be narrowed down through more votes in the coming weeks, according to the 1922 Committee of Conservative Members of Parliament, which is organising the campaign. The last two will then be chosen by the less than 200,000 party members by July 21.
On September 5, the winner and new prime minister of Britain will be declared.
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Rishi Sunak will most likely be the next PM