The flood of ministerial resignations from UK prime minister Boris Johnson’s government in recent days started with Rishi Sunak’s resignation as UK chancellor of the exchequer on July 5 2022, alongside health secretary Sajid Javid’s. His resignation letter cited differences of opinion over the economy, saying that a “low-tax, high-growth economy and world-class public services” could only be “responsibly delivered if we are prepared to work hard, make sacrifices and take difficult decisions”.
Sunak’s swift replacement, former education secretary Nadhim Zahawi, joined a growing group of ministers calling on Johnson to quit within days. But in his first interviews as chancellor, he immediately teased the idea of tax cuts, saying “nothing is off the table”.
Johnson has since bowed to pressure and resigned. The tax cut strategy, which was clearly off the table for Sunak, could underpin a potential leadership bid by Zahawi - and perhaps other Conservative hopefuls. But are tax cuts a reasonable way forward for the economy and, if so, will it be an effective measure as the UK faces a cost of living crisis?
