Fraser Nelson: A Boris Johnson return or Rishi Sunak rise could save British Tories from oblivion
Now, once again, Sunak is the bookmakers’ favourite. Once again, his allies say he has the most support among MPs so is best placed to command parliamentary consensus. He can now claim vindication, having predicted that Trussonomics would send the pound sprawling and interest rates spiking. As things stand, his most likely rival is Penny Mordaunt, who has a fraction of his experience. MPs want a quick coronation: some say at least 150 of them are now ready for Rishi.
I was chatting to a group of one-nation Conservative MPs recently, who are by no means Johnson’s core vote. But even they were reminiscing about his electoral magnetism, his impact during by-election visits, and how there is nothing — or no one — like it. Given that most Tory MPs now expect to lose their seat at the next election — some are even talking about how they’d struggle to find work and pay bills — they need a winner more than anything else. They may hate Johnson.
He’d need 100 MPs to get to the nomination: quite a hurdle for someone who only recently faced a confidence vote. Already, some MPs are threatening to resign the whip if he returns. So while he’ll toy with the idea of a De Gaulle-style comeback, he may well decide to stick to his more agreeable world of 300,000 pounds-a-night speeches, American spa hotels and mournful emails from politicians saying how much better things were under him. Above all, the British government needs competence.
All told, the Hunt package looks set to come in at about 35 billion pounds — making it one of the biggest high-tax austerity hits in half a century. This is what happens when a clueless Conservative government panics and is convinced that it needs to assuage “the markets.” Yes, Liz Truss overdid it with her general hubris. But Hunt is running too far the other way.Article content
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