Rishi Sunak insists UK economy is ‘bouncing back’ as he aims to end political turmoil

Rishi Sunak will seek to use the improving economy as a trigger for a political turnaround this week as he battles growing unrest within the Conservative Party.

The Prime Minister said that this year “will be the year Britain bounces back” from the economic crisis which has gripped the country in the wake of the pandemic and war in Ukraine.

He is hoping that updated inflation data due on Wednesday will show a large drop in the rate of price increases, confirming that average living standards are firmly rising.

Mr Sunak is also pushing to send asylum seekers to Rwanda for the first time within weeks in a bid to win back voters worried about high immigration levels who have shifted their support to Reform UK.

He said on Sunday night: “The last few years have been tough for the British economy as we have faced a series of shocks: Covid, then war in Ukraine and the Middle East. That’s why we’ve been so focused on our economic priorities: halving inflation, growing the economy and reducing debt.

“And there is now a real sense that the economy is turning a corner with all the economic indicators pointing in the right direction. This year, 2024, will be the year Britain bounces back.”

The Prime Minister admitted that “things remain tough for people” but pointed to the rises in the state pension and national living wage which take effect next month, adding that his economic plan “means cutting national insurance again, to 8 per cent, a tax cut of £900 for the average worker and the next step in our long-term plan to abolish NICs so we end the double tax on work – a plan opposed by the Labour Party, who want to keep the double tax on work because they know they will have to put taxes up to pay for all their unfunded spending plans”.

Labour’s Jonathan Ashworth called for Mr Sunak to announce the date of the general election, telling Sky News: “This is not in the national interest anymore. It is irresponsible. We need stability in this country. He could stabilise this by calling, naming the date of a general election. Otherwise, I fear we may have a Tory leadership election ahead of a general election.”