Analysis: Chancellor of the Exchequer Rishi Sunak takes his first steps towards an uncertain destination
Rishi Sunak has been a relatively rare breed among UK Government ministers during the coronavirus crisis to date, in that his reputation seems to have been enhanced rather than ruined.
by Calum RossSign up for our daily Politics briefing for political exclusives, analysis and debate.
Thank you for signing up to our Politics newsletter.
Something went wrong - please try again later.
Sign Up
While many of his Conservative colleagues have been brutally exposed under the pressures of the pandemic, the chancellor’s assured performances and interventions have even led to him being tipped as a future prime minister.
It has been an astonishing ascent by the MP for Richmond (Yorks), who was unknown to most before being parachuted in to replace Sajid Javid in February.
Within a month of that appointment, Mr Sunak was delivering his first Budget, which had to be hastily rewritten more than once, not least because the scale of the looming economic catastrophe was beginning to become clear.
Further unprecedented action was required in the weeks that followed, including asking the Treasury to effectively take on the bulk of the wage bill of more than a quarter of the UK’s workforce under the “furlough” scheme.
Mr Sunak has claimed it has been one of the most “generous” offers in the world, and that it has helped to prevent redundancies on a colossal scale.
But while the chancellor has won plaudits for his swift response, he will always have known much more difficult decisions lay in wait further down the road.
One of the most sensitive among them, and the one that he began to answer in his statement on Friday, has been how and when Mr Sunak would attempt to end the various job support schemes for which he was previously being praised.
Because, as he seemed to admit, redundancies and business closures are certain to follow, and when they do, the government, and Mr Sunak, will find themselves in the firing line.
Another challenge for the chancellor is where he is going to find the money to pay the enormous bill for the various economic interventions, estimated by some to be likely to top an eye-watering £300 billion.
Be it tax rises or spending cuts, whatever path he takes would be fraught with danger for any politician, let alone one with ambitions to become prime minister, if indeed he does.
But if he can find a way to navigate the inbound economic storms successfully, few would bet against him.
Support The Courier today.
The Courier is committed to delivering quality content to our communities and right now that’s more important than ever, which is why our key content is free. However you can support us and access premium content by subscribing to The Courier from just £5.99 a month. Because Local Matters.
Subscribe
Tags
More from The Courier UK politics team
Former PM says Cummings had not ‘followed spirit’ of lockdown guidance
May 29 2020
Coronavirus: Chancellor extends support for self-employed but warns of ‘hardship ahead’
May 29 2020
Coronavirus: What changes have been announced to the furlough scheme and self-employed support?
May 29 2020
More from The Courier
ANGUS WHITSON: ‘I’m assured we’ll see our migrant birds as usual – just fewer of them and late’
Pivotal Angus Pictish battle inspires Angus poet to create lockdown work in Parkinson’s UK fundraiser
Dundee engineering firm Albacom promotes the circular economy
St Johnstone end-of-season review: Player of the Year, star men and realistic targets for Tommy Wright’s replacement
FEATURE: Amazing story behind discovering the wreck of the long-lost Dundee whaling ship the Nova Zembla
Coronavirus: Tales of local lockdown life sought for Angus and Dundee pandemic projects