Vote for us a vote for rates cut: Rishi Sunak

British Prime Minister Rishi Sunak says a vote for the Tories is a vote for cuts to interest rates.

UK Prime Minister Rishi Sunak sits in an armoured vehicle during a Conservative Party general election campaign event in Honiton, England, on Wednesday. Picture: Getty Images

British Prime Minister Rishi Sunak says a vote for the Tories is a vote for cuts to interest rates, while setting out a vision for a “more prosperous, more secure, more united country” if he wins the July election.

He accused Labour of “taking the British people for granted” and assuming that it could just “glide into No. 10” without setting out a clear plan for office.

Mr Sunak made a pledge to lower the tax burden if he won the election and insisted that in the “crucible” of the campaign, Labour’s poll lead would narrow.

He said the decision to call an early election on July 4, heavily criticised by some cabinet ministers and Tory backbenchers, “rests on my shoulders and my shoulders alone”.

The Prime Minister said he shared the optimism of the Bank of England that the economy was “heading in the right direction” and interest rate cuts were on the way.

His pitch to voters was that a vote for the Tories was a vote for lower interest rates.

“Of course it is, because we are the party who has committed to bringing down inflation, which is a necessary condition for bringing down ­interest rates,” he said. “And I think people can see we have delivered that.

“And that allows us to think about the ­future in a more positive and confident way.”

Traders believe the first interest rate cuts from the present 5.25 per cent are likely to come in August after a significant fall in energy prices.

Labour has criticised Mr Sunak’s ­attempt to take credit for falling inflation, given the influence of global factors.

Labour, meanwhile, has pledged to adopt a Tony Blair-style action plan to tackle street crime, including soaring rates of robbery and knife attacks.

Chancellor Jeremy Hunt accused Labour of planning a £9bn ($17.3bn) value-added tax raid to fill a “black hole” in its spending plans as the Tories said voters should “start saving” if they thought Labour would win power.

Mr Sunak has made a series of policy announcements in the first week of the campaign –­ ­national service for 18-year-olds, income tax cuts for pensioners and scrapping poor quality “mickey mouse” degrees – as he seeks to make a dent in Labour’s lead. He is positioning himself as the underdog.

“Lots of people, starting with Labour, want the country to ­believe this election is over ­before it has even begun,” he said. “They’re just taking the British people for granted, assuming they can glide into No. 10 without telling anyone what they want to do if they got there.”

Mr Sunak said he expected his announcement on compulsory national service to be the biggest of the election campaign.

He said further significant spending pledges were to come.

The Conservatives have so far committed to spend£3.4bn on the national service pledge and income tax cuts for pensioners. They have also outlined plans to raise £6bn by clamping down on tax avoidance and evasion, leaving £2.6bn for further policies.

the Times