Rishi Sunak calls early election for July 4, focusing on economy and security

From Morningstar.: 2024-05-23 05:28:00

Rishi Sunak has set a General Election for July 4, citing it as a pivotal moment for Britain’s future. Analysts speculate the prime minister is banking on improved economic indicators to close Labour’s lead.

Concerns over security and the economy are expected to dominate the campaign, with Sunak emphasizing the need for a clear plan in uncertain times. The early election caught many by surprise, with October or November previously seen as more likely dates.

Following the announcement, the Office for National Statistics reported a drop in CPI inflation to 2.3% in April from 3.2% in March. Sunak hailed this as a significant achievement, returning inflation to “normal” levels.

Speculation arose over the timing of the election, with some suggesting it could allow for pre-election financial measures. However, April borrowing exceeded forecasts at £20.5 billion, potentially limiting scope for such initiatives.



Read more at Morningstar.: Rishi Sunak Calls Election For 4 July