I wrote for The Times setting out why I was once again backing Rishi Sunak to be the next Leader of the Conservative Party and Prime Minister. You can read a non-paywalled version of my article below:
Economic mind with a people touch — why I urge my colleagues to back Rishi Sunak
To put it bluntly, Rishi is the best candidate. That is why I am supporting him.
He offers stability, economic competence, and credibility. These are all things that our nation needs right now.
Liz Truss worked very hard for the country, and it is unfortunate that things ended the way that they did. We are now in a severe political crisis, but that crisis has been fundamentally caused by an economic crisis. Having had a career in the City myself, and having worked with him closely in parliament, I know Rishi has an exceptional economic mind, with the right temperament to be our leader. Rishi understands financial markets, he ran the Treasury during the unprecedented stresses of Covid-19, and over the summer he clearly set out how we can keep inflation down, mortgage costs low, and public finances secure. He is the man who can help get us out of this economic crisis. By doing that, we can tackle our political problems — as a nation and as a party.
But fixing the economy isn’t fundamentally about politics. It is about people. When we have a stronger economy, that will be the only way that we can increase take home pay so that working people have a bit more at the end of each week. With a stronger economy, more of our fellow citizens up and down the country will be able to fulfil their ambitions — start that business, get the dream job, go on that memorable family holiday. Only when our economy is stronger, our key public services like the NHS will get more funding without resorting to borrowing.
With a recovered economy, we will we be able to balance our books, which (as the markets have painfully reminded us) is not an easy task in a modern world when demand for government spending is rising all the time. Why does it matter so much to reduce our government deficit? It matters because that reduces inflation, which in turn reduces interest rates. That means that more people will be able to achieve their dream of home ownership, the conservative value that we most hold dear.
In this leadership contest, it is not just about Conservative Party politics. We should be thinking about who can govern the country well. Who can actually do the job. Rishi has been tested at the highest level. He is a highly capable administrator and communicator – rarely are both skills found in the same place! He received the most support among MPs last time because MPs — who know the candidates best because we see them close up on a regular basis — know him to be highly competent.
However, he combines that with being well known and liked by the public at large. Not because he is flawless — far from it. He has made mistakes. But he is well liked by the wider public because I think they can see the same essential qualities in Rishi as I can. He is capable and experienced. He has a plan for the economy. And he is fundamentally decent, honest and trustworthy. I urge my parliamentary colleagues and party members to support him.