Skip to content
Wednesday 29 July 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
City PM

European business, markets and politics

FTSE 100
10,901.99
+0.28%
DAX
25,518.13
+0.21%
CAC 40
8,406.24
-0.62%
STOXX 50
6,268.10
-0.34%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Sunday 23 October 2022 11:59 am  |  Updated:  Sunday 23 October 2022 2:37 pm

Rishi Sunak announces leadership bid as he vows to ‘lead with integrity’

By: Stefan Boscia

Add as a preferred source on Google
UK Tories Seek Quick Fix to Chaos as Party Faces Wipeout
Rishi Sunak, the bookmakers' favourite to become next UK Prime Minister, said "I want to fix our economy, unite our party and deliver for our country" in the wake of Liz Truss' disastrous six-week premiership.

Rishi Sunak has formally launched his bid to be Tory leader and Prime Minister, vowing to “lead with integrity” in a clear attack on Boris Johnson.

Sunak, the bookmakers’ favourite to become next UK Prime Minister, said “I want to fix our economy, unite our party and deliver for our country” in the wake of Liz Truss’ disastrous six-week premiership.

Johnson is yet to formally declare he will run, but business secretary Jacob Rees-Mogg today told the BBC “clearly he’s going to stand” amid speculation he could pull out of the race.

Allies of Johnson have said the former Prime Minister has the numbers to get on the ballot, with Northern Ireland secretary Chris Heaton-Harris today saying “we do have the numbers, the Rishi camp knows we have the numbers, the Penny camp knows we have the numbers”.

Sunak is beginning to pick up a lot of momentum and has secured the nomination of some of key figures from the right of the party today, including Suella Braverman and Steve Baker.

Penny Mordaunt announced her leadership bid on Friday, but is lagging behind Sunak and Johnson in the number of public supporters behind each candidatge.

Sunak already has more than 140 public nominations from fellow Tory MPs and is the only candidate to have passed the 100-nomination threshold to run in the race.

The United Kingdom is a great country but we face a profound economic crisis.

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. pic.twitter.com/BppG9CytAK

— Rishi Sunak (@RishiSunak) October 23, 2022

Johnson has 60 public backers, while Penny Mordaunt has 24.

Read more

Andy Burnham should show London he cares by funding this one transport project

Andy Burnham, Mayor of Greater Manchester, standing outside 10 Downing Street in a suit and tie.

In his statement today, Sunak said: “I served as your chancellor, helping to steer our economy through the toughest of times.

“The challenges we face now are even greater. But the opportunities – if we make the right choice are phenomenal.”

Sunak supporter, and former deputy PM to Johnson, Dominic Raab said a deal between the top two candidates is not the “right way to proceed” and that the pair had a “very good conversation about the need for there to be unity”.

Sunak allies have said Johnson cannot possibly become Prime Minister again while he still has a House of Commons inquiry on partygate hanging over his head.

A Commons committee will soon start hearing evidence about whether Johnson misled parliament over Number 10’s many lockdown-busting parties.

Cabinet Office minister Nadhim Zahawi today backed Johnson’s bid to make a stunning return to Number 10 and said the former Prime Minister had changed.

“When I was chancellor, I saw a preview of what Boris 2.0 would look like. He was contrite and honest about his mistakes. He’d learned from those mistakes how he could run No10 and the country better,” he said.

Brexiteer right-winger Steve Baker today backed Sunak and said: “I’m afraid because of the privileges committee vote, Boris Johnson would be a guaranteed disaster.”

Read more

‘Fantastic news’ as Burnham brings Britain’s AI minister into Cabinet

Kanishka Narayan, prominent figure in the news, engaging in a public event or discussion, showcasing leadership and influe...

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Politics

Trending Articles

  • Big Four’s AIM exodus accelerates as mid-tier firms seize mandates

  • EY and London managing partner fined over £1.3m for audit failure

  • Lloyd’s of London allows staff to work from home as heatwave hits the capital

  • FTSE 100 firm agrees £5.7bn takeover in latest private equity swoop

  • Burnham backs plan to pump £1bn pension funds into start-ups

More from City PM

  • Andy Burnham should show London he cares by funding this one transport project

    Opinion
    Andy Burnham, Mayor of Greater Manchester, standing outside 10 Downing Street in a suit and tie.
  • ‘Fantastic news’ as Burnham brings Britain’s AI minister into Cabinet

    Tech
    Kanishka Narayan, prominent figure in the news, engaging in a public event or discussion, showcasing leadership and influe...
  • Forget Burnham, what will Starmer do next?

    Opinion
    Keir Starmer announces resignation at press conference, standing behind podium with serious expression, addressing media
  • Victory wasted: The cautionary tale of Keir Starmer

    Opinion
    Keir Starmer exiting a building, dressed in a suit, amid media attention, reflecting leadership and political significance
  • Reeves: Burnham will face ‘shocks and challenges’ as Prime Minister

    Politics
    Rachel Reeves delivering a speech at a press event, wearing a navy blazer and standing in front of a backdrop with logos.
  • ‘Moron premium’ – Westminster turmoil has ‘cost taxpayers £35bn’ since 2022

    Politics
    Westminster Houses of Parliament under clear sky, iconic London landmark representing UK government and politics
  • ‘Phenomenal waste of time’: Burnham slammed over plans to dismantle tech department

    Tech
    Andy Burnham speaking at a press conference, expressing confidence despite challenges, highlighting leadership and resilie...
  • Healey challenges Cabinet to find cuts 

    Politics
    John Healey, an MP, speaks at a formal business meeting with other politicians and executives around a green table.
CityPM

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About City PM
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 City PM Ltd · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook