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Thursday 23 May 2024 1:52 pm

Election 2024: Rishi Sunak stakes Downing Street future on ‘economic stability’

By: Jessica Frank-Keyes

Political Reporter

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Markets have shown little reaction to the news that Britain will be going to the polls on July 4, with the future path of interest rates still front and centre for investors
Markets have shown little reaction to the news that Britain will be going to the polls on July 4, with the future path of interest rates still front and centre for investors.

Rishi Sunak has staked his political future on the promise of “economic stability” and Britain’s security as he braved a Westminster downpour to call a general election on July 4.

The Prime Minister stood outside a rainy No10 as he announced he had spoken to the King and confirmed the country would go to the polls in just over six weeks.

It came after hours of febrile speculation in Westminster, with foreign secretary David Cameron flying back from a visit to Albania for a crunch cabinet meeting.

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Sunak made the issues of security and economic stability the core of his general election pitch to voters – both of which have been significant themes for his Labour opponents in recent months.

In his speech, he emphasised that “economic stability is the bedrock of any future success”.

He described the UK’s economic growth “outpacing Germany, France and the US” and yesterday’s news that inflation had fallen to 2.3 per cent, as “two major milestones in delivering that stability” and “proof the plan and priorities I set out are working”.

Sunak called the inflation drop a sign it was “back to normal”, despite economists hoping for a lower rate of 2.1 per cent, which is still just above the two per cent Bank of England target, and said this “hard-earned” result “was only ever meant to be the beginning”.

National security – including Putin’s war in Russia, energy threats, China’s dominance, Islamist extremism and weaponised migration – was another major theme, as he told voters the world was “more dangerous than it has been since the end of the Cold War”.

Sunak stressed to voters they had a choice between him and Labour leader Keir Starmer – who hit back with a campaign video of his own calling it “the moment the country has been waiting for”.

Starmer stressed the general election is a “chance to change for the better”, insisting: “That opportunity for change is what this election is about.”

Parliament is set to dissolve – meaning MPs are no longer MPs and become candidates – on Thursday, May 30 – heralding the official start of the election campaign. It will resume post-election on Tuesday, July 9.

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