Rishi Sunak becomes UK’s new prime minister, pledges to restore stability

 

Speaking outside the prime minister’s residence, Rishi Sunak said he would confront the “profound economic crisis” with compassion and lead a government of “integrity, professionalism and accountability.” 

He becomes prime minister after the seven-week tenure of Liz Truss, whose tax-slashing economic plans sent the country’s finances into turmoil. Sunak was selected as leader of the governing Conservative Party on Monday as it tries to stabilize the economy, and its own plunging popularity, after the brief, disastrous term of Liz Truss. 

Sunak, who was Treasury chief himself for two years until July, said Monday that Britain faces “a profound economic challenge.” Truss conceded last week that she could not deliver on her plans — but only after her attempts triggered market chaos and worsened inflation at a time when millions of Britons were already struggling with soaring borrowing costs and rising energy and food prices.