Sunak back in UK PM race

London: Indian-origin former chancellor Rishi Sunak on Sunday formally declared his candidacy to contest the Conservative Party leadership election to replace Liz Truss as British Prime Minister and fix the economy. The 42-year-old is the clear frontrunner as he raced ahead with the backing of at least 128 Tory members of Parliament, even as loyalists of his former boss – Boris Johnson – claimed he has the necessary 100 MPs needed to make it to the shortlist.

While the former Tory leader and prime minister is yet to officially declare his candidacy, the contest is shaping up as a three-way fight including third-placed Leader of the Commons Penny Mordaunt. "The United Kingdom is a great country, but we face a profound economic crisis," Sunak tweeted in his campaign pitch. "That's why I am standing to be Leader of the Conservative Party and your next Prime Minister. I want to fix our economy, unite our party and deliver for our country," he said.

In an accompanying vision statement, the former finance minister highlighted his track record of serving in the Cabinet, helping to steer the economy through the toughest of times with the COVID pandemic. "The challenges we face now are even greater. But the opportunities – if we make the right choice – are phenomenal. I have the track record of delivery, a clear plan to fix the biggest problems we face, and I will deliver on the promise of the 2019 manifesto," he writes. "There will be integrity, professionalism and accountability at every level of the government I lead, and I will work day in and day out to get the job done. I am asking you for the opportunity to help fix our problems," he said.

The much-anticipated declaration came following reports of so-called power-sharing talks between Sunak and Johnson, which supporters say sought to find common ground within a deeply divided Tory party. "I don't think there's any issue around deals here and that's not the right way to proceed," former deputy prime minister and Sunak supporter Dominic Raab told the BBC. "What they [Sunak and Johnson] did have is a very good conversation around the need for unity and the momentum and growing number and also range for Rishi, that he is the best placed because he has got the breadth of support," he said, adding that support for Sunak from within the party was "growing by the hour".

Candidates have until 2pm local time on Monday to be included on the ballot paper, with successful candidates requiring the support of at least 100 Conservative MPs. If any one candidate crosses the 156-MPs mark before then, the shortlist would automatically shorten to two candidates given the Tory House of Commons tally of 357 MPs. If there is a three-way clash, MPs will hold an indicative ballot on Monday to put forward the final two shortlisted candidates for an expedited online vote by around 170,000 Tory members, with the new leader elected by next Friday. In case the party can internally unite behind one candidate, then the new leader and Prime Minister could be in place by Monday evening.

A number of Tory ministers, including former leadership contenders Trade Secretary Kemi Badenoch and Security Minister Tom Tugendhat – who had backed Truss in the last race, have come out in support of Sunak. It is reflective of the overwhelming support he received from his colleagues back in July, soon after Boris Johnson resigned in the wake of the Covid lockdown law-breaking partygate scandal.