Sunak's in-tray: what challenges will the PM face during his first week in office?

24 October 2022, 13:46 | Updated: 24 October 2022, 14:50

With former Chancellor Rishi Sunak poised to become the next UK prime minister, the incoming Tory leader is set to become a master in crisis management.

The third PM in as many months, looming winter strikes across public sector services and the ongoing cost of living crisis are just two of the key issues at the top of the incoming-PM’s agenda.

Ahead of the former Chancellor Rishi Sunak getting his hands on the keys to number 10, these are the most pressing issues waiting in his in-tray as the new prime minister.

Read more: 'All Hell will break loose': Nadine Dorries slams Rishi Sunak's 'lack of mandate' to be PM

The economy

With Truss and Kwarteng’s mini-budget setting the economy back decades, Sunak faces an uphill battle to settle the markets and restore a sense of political stability after extensive Tory in-fighting.

Sunak has already announced that fixing the economy is a top priority. The former Chancellor knows a thing or two about fiscal policy, but with the markets still tentative and the Treasury facing a £40 billion black hole, Sunak will have to work closely with interim chancellor, Jeremy Hunt, if there’s hope of a recovery.

With the medium-term fiscal statement brought forward to October 31, can he put the public finances in order in time?

And will the incoming PM approve sweeping cuts in favour of notable tax rises?

Benefits

A subject that’s hit headlines in recent months, it’s yet to be confirmed whether benefits will rise in-line with inflation.

Affecting thousands of low-income households across the nation, it’s a decision that could further impact the Tories’ already dwindling exit-poll figures.

But can the government afford to add to the nation’s already sizable debt?

Public sector strikes and pay

With a winter of discontent looming, Sunak faces strike ballots and action across the public sector.

With inflation affecting families across the country, nurses, ambulance workers, teachers, train drivers, civil servants and university lecturers are but some of the areas considering strike action over public sector pay.

A fine balancing act, the real-terms pay cuts affecting thousands of workers is set to cause chaos across the nation unless something is done.

But how much of a priority will this be in relation to other pressing issues?

Energy Crisis

A nation already in the midst of a cost of living crisis, soaring energy prices will see many of the most vulnerable going cold this winter unless something is done.

The ongoing war in Ukraine and resulting restrictions on Russia pushed fuel prices skywards, so how will Sunak deal with the crisis winter draws near?

With fuel prices soaring globally and fracking back on the table, what measures will the new MP implement?