London — The next prime minister of the U.K. will be Rishi Sunak. This comes after the current prime minister, Liz Truss, said last week that she would step down. The 42-year-old former head of the U.K. Treasury will become the country’s third prime minister in less than two months. He will also be the country’s youngest prime minister since 1812 and the first person of colour to hold the position. He has Indian roots and is a Hindu.
Sunak said at the headquarters of Britain’s Conservative Party on Monday, “I promise to serve you with honesty and humility.” “Serving the party I love and giving back to the country I owe so much to is the greatest honour of my life.”
Sunak, who used to work in finance, is one of the richest people in the U.K. with his tech heiress wife, Akshata Murty. He was Boris Johnson’s treasury secretary, and many Conservative members of parliament and Brits, in general, will be hoping that his economic experience will help to stop the pound from falling and to stop inflation and interest rates from going through the roof.
He was an outspoken critic of the economic plan put in place by Truss a few weeks ago, which focused on cutting taxes. This plan sent shockwaves through international markets and hurt investors’ faith in the U.K. Even though almost all of that plan was scrapped soon after it was announced, the world still doesn’t trust Britain’s economic stability.
1/ Boris Johnson delivered Brexit and the great vaccine roll-out.
He led our country through some of the toughest challenges we have ever faced, and then took on Putin and his barbaric war in Ukraine.
We will always be grateful to him for that.
— Rishi Sunak (@RishiSunak) October 23, 2022
Sunak was able to get the support of more than 100 of his Conservative Party colleagues on Monday. This made him eligible to run for the party’s leadership after Liz Truss announced her resignation. Penny Mordaunt, his main rival, dropped out of the race right before the 2 p.m. Monday deadline for getting the required number of backers. Boris Johnson also dropped out of the race on Sunday night.
Prime ministers of the United Kingdom aren’t chosen directly by voters. Instead, they are usually the heads of the parties with the most seats in parliament. Since the Conservative Party has the most seats in parliament, the process of choosing a new leader would also decide who would be the new prime minister.
Rishi Sunak won’t become the prime minister until Truss gives King Charles III an official letter of resignation and the king asks Sunak to form a new government. On Tuesday, that is likely to happen.
By law, the public must vote again for members of parliament in a general election by January 2025. The next public vote will be set by the government, which is still run by the same Conservative Party that has been in power for more than a decade. The government can do this at any time before the deadline. Some people and groups, like the opposition Labour party, want a general election to be held right away.
The United Kingdom is a great country but we face a profound economic crisis.
That’s why I am standing to be Leader of the Conservative Party and your next Prime Minister.
I want to fix our economy, unite our Party and deliver for our country. pic.twitter.com/BppG9CytAK
— Rishi Sunak (@RishiSunak) October 23, 2022
But because of the turmoil within the Conservative Party, which has caused recent political chaos, the “Tories,” which is another name for the Conservatives, are polling at their lowest level ever against Labour. The new government might not want to call an election before the deadline because it could mean that the party could lose its majority in parliament.
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