What questions could Rishi Sunak face at the COVID inquiry?
After appearances from Boris Johnson, Matt Hancock and a range of Downing Street advisers, it is now time for Rishi Sunak to be questioned at the official COVID inquiry.
We take a look at what questions the prime minister – who served as chancellor throughout the pandemic – is likely to face.
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Sir Chris Whitty says the first lockdown was ‘a bit too late’
Lockdown timing
Many of the hearings in this section of the inquiry have focused on whether the government locked down the country at the right time – or whether the decision was left too late.
While many of the advisers and ministers have said it was the latter, then prime minister Mr Johnson appeared to stand by his decision to wait – telling the inquiry he “can’t say” whether he would have “gone earlier”.
As a very senior member of the prime minister’s cabinet at the time, Mr Sunak is sure to be asked where he stands on the ongoing debate.
Dominic Cummings’ WhatsApps were read to him during his inquiry hearing
‘Just let people die’
Many who have faced the inquiry have suggested Mr Sunak had an aversion to locking down as he sought to protect the economy and, in turn, the Treasury’s coffers.
His scepticism is said to have grown throughout the crisis, telling one meeting that the government should be “handling the scientists, not the virus” – unbeknownst to him, the scientists were listening in.
But the most graphic allegation around his views came from an entry in the chief scientific adviser’s diary as senior figures discussed heading into a second national lockdown in October 2020.
Sir Patrick Vallance wrote that chief adviser Dominic Cummings claimed “Rishi thinks just let people die and that’s okay”.
We know from his top economic adviser, Clare Lombardelli, that Mr Sunak was told by officials to push back hard against a “catastrophic” circuit breaker in September.
But the now prime minister is sure to be asked about Mr Cummings’s remarks, and whether that is what he believed.
Helen McNamara claims there was a ‘sexist’ culture in Downing Street
Working environment
Another element highlighted in several of the hearings were claims of a “toxic” culture inside Downing Street during the pandemic.
Deputy cabinet secretary Helen McNamara described the environment as “sexist” and “awful”, telling the inquiry how women were routinely “ignored” and issues that particularly affected them – such as childcare, domestic abuse and access to abortions – were not being considered.
She was also the subject of vitriolic messages from Mr Cummings, who used four-letter words and descriptions of how he wanted to “handcuff” her.
As a part of the top team, Mr Sunak may well be asked what his experience of working in Downing Street was throughout COVID.
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Boris Johnson was heckled at COVID inquiry as he said ‘sorry’
Johnson critique
The pandemic prime minister has faced reams of criticism throughout the recent hearings – from being nicknamed a “shopping trolley” due to how much his opinion allegedly veered, through to claims he didn’t even understand the science being put to him.
As his right hand man in Number 11, Mr Sunak is likely to be asked for his opinion on Mr Johnson’s abilities, and his decision-making throughout.
And everyone else has been asked about what they thought of Mr Hancock too, so we can expect to hear Mr Sunak’s conclusions on the work of the then health secretary.
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Simon Ridley says the COVID taskforce was ‘blindsided’ by Eat Out to Help Out
Eat Out to Help Out
This scheme, aimed at helping the hospitality sector recover after being hit hard by lockdowns, is one Mr Sunak has long celebrated.
He said the plan helped save millions of jobs in pubs, restaurants and cafes, as well as enabled people to return to doing the things they loved.
But soon after the scheme ended, studies were linking it to a rise in infections – which ultimately led to more deaths and a further lockdown – and that claim has been repeated at the inquiry.
One of the government’s senior scientific advisers, Professor Dame Angela McLean, even dubbed the chancellor “Dr Death” in messages to a colleague.
It was also revealed by Sir Patrick Vallance that the Treasury announced the scheme without seeking advice from scientists or medical advisers.
So we imagine a strong grilling of Mr Sunak over how he formed the policy, and the impact it had.
Boris Johnson pictured toasting staff in Downing Street during lockdown
Partygate
One of the biggest stories to surface from the pandemic was the numerous lockdown breaking parties that took place in Downing Street.
There was palpable anger from the public as the gatherings began to be revealed, with stories of suitcases full of wine, karaoke machines and staff throwing up on the walls all surfacing.
However, it was a more sedate, albeit still rule-breaking affair – a birthday party for Mr Johnson in the Cabinet Room – that saw both Mr Sunak and his boss receive fixed penalty notices from the police.
The now prime minister has defended himself before, saying he was only in the room as he had arrived early for a meeting – though he did accept and pay the fine.
But having been found to have broken the rules and played a part in this national scandal, he is sure to face questions about it.
Despite the ongoing market meltdown on US trade tariffs, executives at major cryptocurrency firms Messari and Sygnum are bullish on institutional Bitcoin adoption later in 2025.
Speaking on a panel at Paris Blockchain Week on April 8, Messari CEO Eric Turner and Sygnum Bank co-founder Thomas Eichenberger said they expect a significant shift in the banking sector’s involvement with crypto in the second half of the year.
According to the executives, the global banking push into Bitcoin (BTC) services has great potential to happen in the second half of 2025 as regulators embrace crypto, including stablecoins and crypto services by banks.
“I think we’re probably looking at a muted Q2, but I’m really excited for Q3 and Q4,” Messari’s Turner said during the panel discussion moderated by Cointelegraph CEO Yana Prikhodchenko, forecasting “really interesting” things coming to the crypto market in 2025.
Crypto adoption is not just about Trump
While some investors focus on the pro-crypto stance of US President Donald Trump, Turner emphasized that broader regulatory momentum is what matters most.
“When you look at the potential of having market structure regulation in the US, stablecoin regulation, and just the fact that across the board, not just President Trump himself, but the SEC and all these regulatory industries are really embracing crypto,” Turner said.
Paris Blockchain Week’s panel with Cointelegraph CEO Yana Prikhodchenko, Bancor co-founder Eyal Hertzog, Sygnum co-founder Thomas Eichenberger, Messari CEO Eric Turner, AWS fintech leader Alex Matsuo and Near chief operating officer Chris Donovan. Source: Cointelegraph
Sygnum co-founder Thomas Eichenberger said international banks with US branches are also poised to enter the market once the legal landscape becomes clearer:
“I think it’s a matter of fact that US banks are preparing to be able to offer crypto custody and at least crypto spot trading services anytime soon.”
“I think by then I would agree with you, Eric,” he continued, projecting a continued phase of market uncertainty until the US establishes a clear regulatory framework.
Related: Ripple acquires crypto-friendly prime broker Hidden Road for $1.25B
Banks are no longer afraid of Bitcoin regulators
With the establishment of clear crypto rules for banks in the US, there will be a rush for crypto services by large international banks that are incorporated outside of the US but have a US-based presence, Eichenberger said.
“Some of them may have had their strategic plans in their cupboard to offer crypto-related services, but have been afraid that at some point they will be gone after by any of the US regulatory authorities,” he said, adding:
“Now I think there’s no one to be afraid of anymore in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year.”
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Global trade tensions triggered by US President Donald Trump’s sweeping tariff measures may come to an end with a potential deal with China as investors remain concerned about escalation from both sides.
Trump’s April 2 announcement of reciprocal import tariffs sent shockwaves through global equity and crypto markets. The measures include a 10% baseline tariff on all imported goods, effective April 5, with higher levies — such as a 34% tariff on Chinese imports — set to begin on April 9.
However, the tariff negotiations may only be “posturing” for the US to reach an agreement with China, according to Raoul Pal, founder and CEO of Global Macro Investor.
“In the end, almost all the other tariff negotiations and rhetoric are all about getting China to agree a deal,” Pal wrote in an April 8 X post, adding:
“That is the big prize and both China and the US understand it and need it. Everything else is negotiation posturing. China needs a weaker $ and the US needs tariffs.”
Source: Raoul Pal
“Also, the US is trying to shut down China tariff arbitrage using other channels such as Mexico or Vietnam,” Pal said.
Related: Bitcoin price can hit $250K in 2025 if Fed shifts to QE: Arthur Hayes
China retaliates with new tariffs
Considering China’s latest retaliatory measures, a resolution remains unlikely in the short term.
In response to US tariffs, China imposed a 34% tariff on all US imports effective April 10, media outlet Xinhua News reported on April 4. China’s foreign ministry also vowed to “fight till the end” against Trump’s tariffs, which it called “bullying” by the world’s largest economy.
China overtakes the US in global trade. Source: Econovis
China overtook the US in 2012 to become the world’s largest trading nation by the total value of exports and imports, surpassing $4 trillion in goods trade that year, according to The Guardian.
Crypto markets watch trade outcome closely
As the trade dispute continues to evolve, analysts say a potential agreement between the two global superpowers could serve as a key catalyst for recovery in digital asset markets.
Crypto markets have a 70% chance to bottom by June 2025 before recovering, Nansen analysts predicted.
Related: Crypto market bottom likely by June despite tariff fears: Finance Redefined
Investor appetite for risk assets such as Bitcoin will depend on the global tariff responses from other countries, according to Nicolai Sondergaard, a research analyst at Nansen.
“We have reached somewhat of a local bottom in regard to tariffs and the impact on prices,” the analyst said during Cointelegraph’s Chainreaction live show on X, adding:
“Trump came out guns blazing, and we’ve mostly seen the worst from the US side, so we’ll see if other countries are willing to drop some of the tariffs because it’s very likely the US will do the same.”
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A Nigerian court has reportedly delayed the country’s tax evasion case against Binance until April 30 to give time for Nigeria’s tax authority to respond to a request from the crypto exchange.
Reuters reported on April 7 that a lawyer for Binance, Chukwuka Ikwuazom, asked a court the same day to invalidate an order allowing for court documents to be served to the company via email.
Binance doesn’t have an office in Nigeria and Ikwuazom claimed the Federal Inland Revenue Service (FIRS) didn’t get court permission to serve court documents to Binance outside the country.
“On the whole the order for the substituted service as granted by the court on February 11, 2025 on Binance who is … registered under the laws of Cayman Islands and resident in Cayman Islands is improper and should be set aside,” he said.
FIRS sued Binance in February, claiming the exchange owed $2 billion in back taxes and should be made to pay $79.5 billion for damages to the local economy as its its operations allegedly destabilized the country’s currency, the naira, which Binance denies.
It also reportedly alleged that Binance is liable to pay corporate income tax in Nigeria, as it has a “significant economic presence” there, with FIRS requesting a court order for the exchange to pay income taxes for 2022 and 2023, plus a 10% annual penalty on unpaid amounts along with a nearly a 27% interest rate on the unpaid taxes.
Nigeria’s legal history with Binance
In February 2024, Nigeria arrested and detained Binance executives Tigran Gambaryan and Nadeem Anjarwalla on tax fraud and money laundering charges. The country dropped the tax charges against both in June and the remaining charge against Gambaryan in October.
Tigran Gambaryan (right) was seen in a September video struggling to walk into a courtroom in the Nigerian capital of Abuja. Source: X
Anjarwalla managed to slip his guards and escape Nigerian custody to Kenya in March last year and is apparently still at large.
Related: Binance exec shares details about release from Nigerian detention
Gambaryan, a US citizen, returned home in October after reports suggested his health had deteriorated during his detainment with reported cases of pneumonia, malaria and a herniated spinal disc that may need surgery.
Binance stopped its naira currency deposits and withdrawals in March 2024, effectively leaving the Nigerian market.
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