London - Rishi Sunak has outperformed his recent predecessors, but his challenge lies in striking a balance between promoting economic growth and maintaining stability.

Sunak's successful participation in the G20 summit in New Delhi, fueled by his Indian heritage, garnered significant local interest and offered a brief respite from his domestic political challenges. However, as he approaches one year in office, Sunak faces a tough battle with the Labour Party gaining ground, discontent within his party's backbench, and voter fatigue after nearly 13 years of Conservative rule.

The recent twin by-election defeats to Labour in Mid-Bedfordshire and Tamworth underscored the challenges Sunak faces. Mid-Bedfordshire witnessed the largest numerical majority reversal in a British by-election, while Tamworth saw one of the biggest swings from the Tories to Labour at a by-election since 1945, signaling a potential shift in British politics.

Sunak assumed office following Liz Truss's brief and tumultuous premiership, which eroded Britain's reputation for fiscal prudence. His tenure began just over a year after Kwasi Kwarteng's mini-budget shook economic stability. Market volatility and soaring mortgage bills for voters ensued, as the Conservative Party's commitment to economic competence wavered. Sunak's warnings about inflation proved accurate, leading the Tories to turn to him in a time of crisis.

A year later, Sunak's progress has been mixed. His initial pledges to tackle inflation, boost economic growth, reduce national debt, cut NHS waiting times, and address illegal migration have seen slower progress than desired.

Inflation remains a pressing concern, NHS waiting times are a challenge, and national debt continues to rise, with modest economic growth forecasts. Despite these challenges, Sunak has performed relatively well compared to recent predecessors, instilling a sense of focus and determination to restore government stability.

However, voters are becoming increasingly impatient, as evidenced by the Conservative Party's losses in local elections and Labour's lead in opinion polls. Sunak should prioritize combatting inflation through fiscal responsibility and targeted investments in infrastructure and education, while maintaining a competitive tax regime and a practical approach to immigration.

Building alliances with like-minded democracies, such as India, is crucial, as is rebuilding relationships with European allies. Sunak must also address voter concerns, particularly in "red wall" Northern seats and marginals across the South, where recent policy changes like the delay in the ban on new diesel and petrol vehicles from 2030 to 2035 have garnered attention.

While recognizing the need for greater incentives for investment and lower taxes, Sunak must navigate the challenge of balancing lower taxes with increased spending. Voters are looking for both competence and a hopeful vision for the future, emphasizing that stability and growth can coexist. Sunak needs to boldly articulate this message and secure the support of the Conservative Party, especially when faced with tough decisions, to avoid ending up in the opposition benches.