Rishi Sunak is set to address Conservative MPs amid reported attempts to challenge his leadership. A significant drop in inflation will boost the prime minister as he prepares for the last Prime Minister’s Questions before the Easter parliamentary break.
Additionally, Sunak is expected to adhere to the tradition of appearing before the 1922 Committee of backbench Tory MPs at the end of the parliamentary term. According to official figures released on Wednesday, UK inflation has decreased more than anticipated, reaching its lowest level in over two years.
The Office for National Statistics (ONS) reported that the Consumer Prices Index inflation dropped to 3.4% in February from 4% in January, marking the lowest rate since September 2021.
Economists had forecasted inflation to be at 3.5% last month. This decline brings inflation closer to the Bank of England’s 2% target, coinciding with Thursday’s upcoming interest rate decision.
Despite the positive economic news, discontented governing party members have hinted at the possibility of Commons leader Penny Mordaunt replacing Sunak in Downing Street, should a no-confidence vote be called before the general election.
Mordaunt, a seasoned participant in previous leadership contests, emphasized her focus on her current responsibilities when questioned by reporters.
The Prime Minister anticipates calling an election in the latter half of 2024, with Chancellor Jeremy Hunt suggesting October as the most probable month during his House of Lords committee testimony.
Hunt highlighted the need to finalize departmental funding before the start of the next financial year in April 2023, especially if the general election occurs in October. Sunak recently ruled out holding the Westminster election concurrently with May’s local elections.
Meanwhile, Liberal Democrat leader Sir Ed Davey will kick off his party’s local election campaign in Hertfordshire on Wednesday, ahead of the local elections scheduled for May 2.
