Former UK finance minister Sunak bids to replace PM Johnson

LONDON, July 9 ― British former finance minister Rishi Sunak said yesterday he was running to replace Boris Johnson, three days after helping to launch the cascade of resignations that brought the prime minister down.

“Someone has to grip this moment and make the right decisions. That's why I'm standing to be the next leader of the Conservative Party and your prime minister,” Sunak said in a campaign video released on Twitter. The rules and timetable for the contest to replace Johnson are due to be set out next week by a party committee.

Sunak's popularity with Conservative lawmakers was later dented after he raised payroll taxes in April to fund higher health and social care spending, and announced plans to raise corporation tax sharply in 2023.

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