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Rishi Sunak kicked off the election year trying to sell to voters that his five pledges were on track, and they should vote for him to finish the job rather than “going back to square one”.

But look at his record, and it’s a pretty flimsy argument:

• NHS waiting lists are almost 500,000 higher than in January 2023;

• Boat crossings stood at just under 30,000 people in 2023, with 28,000 making the journey;

• National debt rose to 88.3% of GDP from 85.1% in December 2022. A promise he has delivered is halving inflation – although it’s true real household disposable income has continued to fall – while the economy looks on track to grow.

When he made those pledges, Mr Sunak told his audience “people don’t want politicians who promise the Earth and fail to deliver”.

But when it comes to the two key election issues beyond the economy – NHS waiting lists and stopping the boats – that is exactly where he looks like landing this side of an election.

PM addresses calls to remove ex-Post Office boss’s CBE – live updates

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Sunak on Post Office scandal

A good number of his own MPs are fearful that failing to tackle illegal migration in particular will cost them their seats.

That’s why the furore over whether the PM tried to water down the Rwanda scheme when he was chancellor matters.

As my colleague Rob Powell reported over the weekend, the leaked documents he saw showing the PM had doubts about the scheme when chancellor back in March 2002 raise concerns among MPs that his heart isn’t really in it.

That for all the rhetoric, this is a PM who isn’t really willing to do “whatever it takes” to put the policy into action.

Meanwhile, today I have been told by a Sunak campaign insider that when the PM was running to be Conservative leader in July 2022, he “wanted to scrap the scheme” and had “no serious interest” in illegal or legal migration “until he was persuaded otherwise during the campaign”.

When asked about this on a trip to the marginal seat of Hyndburn in Lancashire, the prime minister was prickly, saying it was “completely false” to suggest he had said during that leadership bid he was “going to scrap it”.

The eagle-eyed among you will note that what the PM denied was that he said he was going to scrap it, not that he wanted to.

And that matters, because it speaks to his commitment to getting Rwanda off the ground amid deep, irreconcilable divisions in his party over how far he should go to succeed.

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Leaks suggest PM had Rwanda doubts

For voters, it perhaps also leaves a bad taste in the mouth that this is a prime minister who isn’t really straight with them – not only when it comes to make big pledges and following them through, but about what he stands for as a PM.

He likes to call Sir Keir Starmer a flip-flopper who plays politics, but his approach to Rwanda suggests he perhaps does the same.

What Mr Sunak would say in reply is he is pushing ahead with the Rwanda bill and getting boat crossings down. He would probably ask people to judge him on his actions not words.

So far, the judgment on his first 15 months in the job has been dire, with the polls failing to budge whatever he does.

He will hope if his economic pledges come good, voters will follow. But he doesn’t have much time left to turn the tide.

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Crypto’s path to legitimacy runs through the CARF regulation

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Crypto’s path to legitimacy runs through the CARF regulation

Crypto’s path to legitimacy runs through the CARF regulation

The CARF regulation, which brings crypto under global tax reporting standards akin to traditional finance, marks a crucial turning point.

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Tokenized equity still in regulatory grey zone — Attorneys

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Tokenized equity still in regulatory grey zone — Attorneys

Tokenized equity still in regulatory grey zone — Attorneys

The nascent real-world tokenized assets track prices but do not provide investors the same legal rights as holding the underlying instruments.

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Rachel Reeves hints at tax rises in autumn budget after welfare bill U-turn

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Rachel Reeves hints at tax rises in autumn budget after welfare bill U-turn

Rachel Reeves has hinted that taxes are likely to be raised this autumn after a major U-turn on the government’s controversial welfare bill.

Sir Keir Starmer’s Universal Credit and Personal Independent Payment Bill passed through the House of Commons on Tuesday after multiple concessions and threats of a major rebellion.

MPs ended up voting for only one part of the plan: a cut to universal credit (UC) sickness benefits for new claimants from £97 a week to £50 from 2026/7.

Initially aimed at saving £5.5bn, it now leaves the government with an estimated £5.5bn black hole – close to breaching Ms Reeves’s fiscal rules set out last year.

Read more:
Yet another fiscal ‘black hole’? Here’s why this one matters

Success or failure: One year of Keir in nine charts

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Rachel Reeves’s fiscal dilemma

In an interview with The Guardian, the chancellor did not rule out tax rises later in the year, saying there were “costs” to watering down the welfare bill.

“I’m not going to [rule out tax rises], because it would be irresponsible for a chancellor to do that,” Ms Reeves told the outlet.

More on Rachel Reeves

“We took the decisions last year to draw a line under unfunded commitments and economic mismanagement.

“So we’ll never have to do something like that again. But there are costs to what happened.”

Meanwhile, The Times reported that, ahead of the Commons vote on the welfare bill, Ms Reeves told cabinet ministers the decision to offer concessions would mean taxes would have to be raised.

The outlet reported that the chancellor said the tax rises would be smaller than those announced in the 2024 budget, but that she is expected to have to raise tens of billions more.

It comes after Ms Reeves said she was “totally” up to continuing as chancellor after appearing tearful at Prime Minister’s Questions.

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Why was the chancellor crying at PMQs?

Criticising Sir Keir for the U-turns on benefit reform during PMQs, Conservative leader Kemi Badenoch said the chancellor looked “absolutely miserable”, and questioned whether she would remain in post until the next election.

Sir Keir did not explicitly say that she would, and Ms Badenoch interjected to say: “How awful for the chancellor that he couldn’t confirm that she would stay in place.”

In her first comments after the incident, Ms Reeves said she was having a “tough day” before adding: “People saw I was upset, but that was yesterday.

“Today’s a new day and I’m just cracking on with the job.”

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Reeves is ‘totally’ up for the job

Sir Keir also told Sky News’ political editor Beth Rigby on Thursday that he “didn’t appreciate” that Ms Reeves was crying in the Commons.

“In PMQs, it is bang, bang, bang,” he said. “That’s what it was yesterday.

“And therefore, I was probably the last to appreciate anything else going on in the chamber, and that’s just a straightforward human explanation, common sense explanation.”

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