"Focusing on Economic Stability and Trust as Core Values"
[Asia Economy Reporter Naju-seok] Former UK Chancellor of the Exchequer Rishi Sunak officially took office as the UK Prime Minister on the 25th.
On the same day, newly appointed Prime Minister Sunak had an audience with King Charles of the United Kingdom to complete the approval process. He left Buckingham Palace and officially began his term at 10 Downing Street, the UK Prime Minister's residence.
In his inaugural speech, Prime Minister Sunak declared, "I will focus on economic stability and trust" and "I will correct the mistakes made by the previous government."
After former UK Prime Minister Boris Johnson's disgraceful resignation, former Prime Minister Liz Truss took office but was also forced to resign disgracefully after just seven weeks. Truss, who had prominently pushed tax cut policies, faced rejection from international financial markets, resulting in turmoil such as the collapse of the British pound and a sharp rise in government bond yields.
Prime Minister Sunak acknowledged that former Prime Minister Truss pursued change relentlessly and followed an agenda for economic growth, which was the right direction. However, he said, "There were some mistakes. These mistakes were not due to bad intentions," adding, "As leader of the Conservative Party and Prime Minister of the UK, I will correct these issues."
He stated, "I may have to make difficult choices, but during the COVID-19 period, I did everything I could and used measures such as furlough schemes to protect the people and businesses," and added, "There will always be limits, but I promise this one thing: that we will share the same sense of compassion for the challenges we face."
Prime Minister Sunak promised, "I will unite the UK as one," and said, "This will be shown not in words but in actions."
Sunak, who comes from an Indian immigrant family, became the first person of color to serve as UK Prime Minister in British history. Born in May 1980, he also set the record as the youngest Prime Minister in 210 years.
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