Rishi Sunak will become the United Kingdom’s new prime minister after winning the ruling Conservative Party’s leadership contest triggered by the dramatic resignation of Liz Truss last week.
Sunak’s win on Monday came days after Truss’s resignation following her disastrous tax cuts plans and policy U-turns plunged the markets into chaos. The unprecedented economic crisis drew a rare intervention from the Bank of England.
Sunak was to make his first remarks at 2:30pm (13:30 GMT), according to Party official Graham Brady, whose 1922 committee of Tory MPs organised a rapid leadership election following last week’s resignation of Truss.
He has been left with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.