Rishi Sunak

Former PM Johnson says “this is simply not the right time” to bid for a return to 10 Downing Street.

In his statement Sunday evening, Johnson claimed he did in fact have the numbers required, and that he was confident of winning sufficient support in the subsequent ballot of Tory grassroots members to put himself back in No. [Zahawi announced 29 minutes](https://twitter.com/nadhimzahawi/status/1584280847141638144) later that he was now backing Sunak instead. 10 — potentially giving him the chance of a comeback. Off to bed!” An hour later he, too, announced he was backing Sunak. Johnson had always made clear he hoped to one day return as prime minister after being ousted back in July. “Boris Johnson delivered Brexit and the great vaccine roll-out,” Sunak said. But most observers believe Sunak is now firmly on course for Downing Street, just seven astonishing weeks after he was roundly defeated by Truss in the last Tory leadership contest. “You can’t govern effectively unless you have a united party in Parliament,” Johnson said. But he said the urgent need for party unity meant he would pull out of the race instead. Senior figures including Chancellor Jeremy Hunt rowed in behind Sunak Sunday evening following Johnson’s departure from the race. prime minister as early as Monday after Boris Johnson sensationally abandoned hopes of a return to No. His decision leaves Sunak, his fierce rival and former chancellor, in pole position to take over as U.K.

More than 150 Conservative MPs came to view Rishi Sunak as their saviour from the threatened return of a scandal-mired Boris Johnson. But when Sunak was at ...

A broad spectrum of MPs have come out for Sunak, from Suella Braverman and Steve Baker on the right to Bob Neill and Stephen Hammond from the centrist wing, and he will have made many promises in order to extract such support, from Eurosceptics in particular. But if he finds himself as prime minister, possibly as soon as Monday, Sunak will have to find depths of political creativity and diplomacy to deal with a nightmare in-tray. Fast-forward just a few months and Sunak finds himself now cast in the role of Tory messiah by some of his colleagues.

LONDON — Former British Prime Minister Boris Johnson announced Sunday he will not run to lead the Conservative Party, ending a short-lived, high-profile ...

In his Sunday statement, Johnson insisted he was "well placed to deliver a Conservative victory" in the next national election, due by 2024. "Therefore I am afraid the best thing is that I do not allow my nomination to go forward and commit my support to whoever succeeds." Tory voters backed Truss over Sunak, but he was proved right when Truss' unfunded tax-cutting package triggered chaos in the markets in September. "What we can't do is have him as prime minister in circumstances where he's bound to implode, taking down the whole government ... The prospect of a return by Johnson had thrown the already divided Conservative Party into further turmoil. His withdrawal leaves former Treasury chief Rishi Sunak the strong favorite to become Britain's next prime minister — the third this year — at a time of political turmoil and severe economic challenges.

Boris Johnson has withdrawn from the race to be Conservative leader, leaving Rishi Sunak within touching distance of becoming prime minister. After senior ...

If Johnson had won, he warned that a political crisis would develop by the end of the week. He suggested the former prime minister would make an “amazing chairman” instead. I believe I have much to offer, but I am afraid that this is simply not the right time.” Labour questioned the appointment of a new prime minister while the country has heard nothing of their programme for government. Sunak is expected to sweep up many more Tory MPs on Monday morning given he has the momentum, but Mordaunt could win over any former Johnson supporters who want to stop him. Many MPs were concerned about the upcoming Perhaps it’s not surprising he’s avoiding scrutiny: after all, he was so bad that just a few weeks ago, he was trounced by Liz Truss.” [Rishi Sunak](https://www.theguardian.com/politics/rishi-sunak) without him saying a single word about how he would govern. “Rishi will be continuing to talk to colleagues tomorrow morning before nomination papers go in, and discussing how best to unite the party and take the country forward,” the campaign source said. She had only 30 public backers by Sunday night – 70 short of the number needed to get on the ballot paper. [Former shadow chancellor] Ed Balls, shadow cabinet ministers and Labour advisers have all said Penny is the candidate Keir Starmer fears the most.” You can’t govern effectively unless you have a united party in parliament.

Rishi Sunak pays tribute to Boris Johnson's achievements as the former PM rules himself out of the race to replace Liz Truss.

But in the course of the last days I have sadly come to the conclusion that this would simply not be the right thing to do. "I believe I have much to offer but I am afraid that this is simply not the right time." Therefore I am afraid the best thing is that I do not allow my nomination to go forward and commit my support to whoever succeeds. You can't govern effectively unless you have a united party in parliament." A general election would be a further disastrous distraction just when the Government must focus on the economic pressures faced by families across the country. I have been attracted because I led our party into a massive election victory less than three years ago - and I believe I am therefore uniquely placed to avert a general election now. Quote Message: A general election would be a further disastrous distraction just when the Government must focus on the economic pressures faced by families across the country. But he concedes he would struggle to unite his party in parliament. And I have got to say that I was absolutely flabbergasted. The Daily Mirror reports that Sunak is on the brink of becoming Britain's latest "unelected PM". It says Mordaunt's allies believe she can now pick up the support of Johnson's supporters to stay in the race. We will always be grateful to him for that."

Ex-chancellor in a strong position after former PM withdraws, but Penny Mordaunt is expected to fight on.

In the summer, Rishi warned that unfunded tax cuts would not be sustainable. “We have a leader who can do just that in Rishi Sunak. “Because he told the truth, the country listened, believed him and followed him. There is a very good chance that I would be successful in the election with Conservative Party members - and that I could indeed be back in Downing Street on Friday. Mr Hunt, backing Mr Sunak, wrote: “Over eight decades ago, Winston Churchill offered the country ‘blood, toil, tears and sweat’. But the same principles apply. Mr Johnson may have been aware of the decision - the pair spoke on Sunday. I believe I have much to offer but I am afraid that this is simply not the right time.” There was an indication that Mr Johnson will be supportive. I’m ready to serve.” And I’m ready for that. [conversations he had with Mr Sunak and Ms Mordaunt](https://www.telegraph.co.uk/politics/2022/10/23/inside-story-boris-rishis-high-stakes-late-night-meeting-ended/) over the weekend.

Boris Johnson has said that due to the failure to reach a deal with Rishi Sunak and Penny Mordaunt, “I am afraid the best thing is that I do not allow my ...

Angela Rayner, the deputy leader, said: “The Tories are about to hand the keys of the country to Rishi Sunak without him saying a single word about how he would govern. Sunak launched his official campaign with a declaration that “fixing the economy” was his priority, but he gave no media interviews or formal manifesto. Johnson said he reached the decision reluctantly after recognising he would not lead “a united party in parliament”. If he cannot feel wanted he would rather not be involved.” Contender Penny Mordaunt, who missed out on the last contest’s run-off by just eight votes, will now come under pressure to concede rather than force the contest to a vote of members. The whiplash u-turn in the loyalties of Nadhim Zahawi outpaced the Daily Telegraph tonight. Presumably, Dorries doesn’t think that is good news for the Tories. Former prime minister Boris Johnson has ended his bid to return to power within months of being ousted, claiming that although he had the numbers, he would not run to replace outgoing leader Liz Truss, who resigned as Conservative party leader on Thursday after just 45 days in office. Johnson and Sunak held talks late into Saturday night, according to reports. The chances of a general election have risen, according to some estimations. Johnson supporter Nadine Dorries has said an election was now “impossible to avoid”. You can’t govern effectively unless you have a united party in parliament.”

Boris: “You can't govern effectively unless you have a united party in parliament”

It is a sign of absolute utter desperation in the Tory party.” In a first for Boris he was rather smartly dressed! He’d learned from those mistakes how he could run No 10 and the country better.” He tweeted: “When I was Chancellor, I saw a preview of what Boris 2.0 would look like. Thanks to all your hard work I can confirm we have completed all the paperwork (verified all nominations, with proposer and seconder) to be on the ballot tomorrow.” She needs 100 by 2pm on Monday to remain in the contest. You can’t govern effectively unless you have a united party in parliament.” Rishi is the only candidate that fits the bill and I am proud to support him.” “But we are in dire straits now. “There will be integrity, professionalism and accountability at every level of the government I lead and I will work day in and day out to get the job done.” Northern Ireland Secretary Chris Heaton-Harris sent a Whatsapp message to supporters telling them: “OK everyone! “I have the track record of delivery, a clear plan to fix the biggest problems we face and I will deliver on the promise of the 2019 manifesto.

We have a leader once again willing to make the choices necessary for our long-term prosperity.

Sadly, [he has been proved right](https://www.telegraph.co.uk/business/2022/09/27/doomster-rishi-sunak-right-trussonomics/). Because Margaret Thatcher took tough decisions in the 1980s, we remain the fifth or sixth largest economy in the world. Because a Conservative government took difficult decisions to balance our books a decade ago - opposed by Labour at every stage - we were able to find more money for the NHS and fund the furlough scheme. [warned that unfunded tax cuts](https://www.telegraph.co.uk/politics/2022/07/15/rishi-sunak-attacks-liz-truss-fairy-tale-economic-plan-tory/) would not be sustainable. We also need someone who can explain those choices to members of the public who are worried about jobs, mortgages and public services. Over eight decades ago, Winston Churchill offered the country "blood, toil, tears and sweat".

Boris Johnson pulls out of leadership race - saying it would "simply not be the right thing to do". | ITV National News.

“Perhaps it’s not surprising he’s avoiding scrutiny: after all, he was so bad that just a few weeks ago he was trounced by Liz Truss." You can’t govern effectively unless you have a united party in parliament.” “And though I have reached out to both Rishi and Penny – because I hoped that we could come together in the national interest – we have sadly not been able to work out a way of doing this," Mr Johnson continued. The former leader said that due to the failure to reach a deal with either of the candidates: “I am afraid the best thing is that I do not allow my nomination to go forward and commit my support to whoever succeeds”. “But in the course of the last days I have sadly come to the conclusion that this would simply not be the right thing to do. In a statement released Sunday, Mr Johnson said: “I believe I am well placed to deliver a Conservative victory in 2024 – and tonight I can confirm that I have cleared the very high hurdle of 102 nominations, including a proposer and a seconder, and I could put my nomination in tomorrow.

The ex-chancellor lost out to Liz Truss in the last leadership contest just six weeks ago after warning her tax plans would bring turmoil.

The increasingly rapid spread of Covid-19 meant his mettle was swiftly tested. After private schooling at Winchester College, where he was head boy, and a degree in philosophy, politics and economics at Oxford, he took an MBA at Stanford University in California where he met his wife, Akshata Murty, the daughter of India’s sixth richest man. Born in 1980 in Southampton, the son of parents of Punjabi descent, Mr Sunak’s father was a family doctor and his mother ran a pharmacy, where he helped her with the books. At the start of the pandemic, he was the most popular politician in the country as he rolled out an unprecedented furlough scheme which saved millions of jobs as the economy ground to a halt. The ex-chancellor gathered a string of endorsements from MPs before declaring he would run, with backers highlighting his “calm competence” and portraying him as a “serious person for serious times”. He kept a low profile as the chaos continued, staying away from the annual Tory conference, which was overshadowed by a U-turn on a flagship policy to scrap the 45p rate of income tax.

Rishi Sunak has just declared he is running to be the next Conservative Party leader and prime minister after days of speculation, during which he amassed the support of well over 100 MPs. In a tweet announcing his candidacy, Sunak writes "the United ...

And I need a leader who will put our house in order and apply a steady, careful hand on the tiller. The momentum is with ex-Chancellor Rishi Sunak. The MP says Johnson "understands the frustration that people had. Who will Penny Mordaunt and her supporters swing behind? Current Chancellor Jeremy Hunt is due to set out his economic plans on 31 October. According to Oddschecker, the likelihood of Sunak becoming PM is 74%. "I think all of us lost our patience over the Partygate issue. He currently has the public endorsement of 146 Tory MPs. But I think he has genuinely learned from those mistakes. "But what we need is a government that will actually tell us honestly there is a reduction in our national standard of living because we've decided to help Ukraine and confront Russia and that means that all of us are going to have to share the burden, we can't just put all of it on our children and grandchildren." Less than 24 hours later – Liz Truss was gone. "I'm confident Boris has got the numbers, I'm confident Boris will be in this contest, and in it to win it," he says.

Rishi Sunak will be “just as bad” for the people of Scotland after Boris Johnson pulled out of the race to become the next Prime Minister, Ian…

Mr Blackford insisted that opposition leaders “cannot stand idly by as the Tories attempt to impose their third prime minister in the space of three months”. He added: “That the Tories can foist upon us a third prime minister in just three years without an election, in the midst of a cost of living and economic crisis of their making, speaks to how unfair and undemocratic this Westminster system is.” Mr Blackford said: “No Tory Prime Minister can or will deliver for Scotland, and with his record of callous austerity from his time as chancellor we know Rishi Sunak will be just as bad as Johnson was for the people of Scotland.

Conservative MP Damian Green is confident Penny Mordaunt will reach the required number of nominations, 100, to enter the race against Rishi Sunak. He told BBC ...

She finished third in the last leadership election. The interest rate on a 30-year UK Treasury gilt fell by nearly 0.2 percentage points to about 3.9%. Leader of the House Penny Mordaunt will need to receive a tidal wave of support to reach the requisite 100 nominations. If Ms Mordaunt falls short of this total by the deadline of 2pm on Monday, or pulls out of the contest, Mr Sunak will take charge of the party without the need for a vote. The number of supporters backing Rishi Sunak to become Britain’s next prime minister continues to grow on Monday. If both candidates reach the 100 MP mark, there will then be a final online poll of party members to decide the outcome with the result due on Friday.

Boris Johnson 'delivered Brexit and great vaccine roll-out', says Rishi Sunak; Penny Mordaunt on 30 supporters as Sunak secures 165 ahead of 2 pm Monday ...

BBC political correspondent Nick Eardley points out that a lot of people will be paying attention to the last few words in Johnson’s statement last night. Contender Penny Mordaunt, who missed out on the last contest’s run-off by just eight votes, is now under pressure to concede rather than force the contest to a vote of members. She did not reveal anything about where her own bid stands, but this may signal that she is planning to get the backing of MPs who declared their support for Johnson: Angela Rayner, the deputy leader, said: “The Tories are about to hand the keys of the country to Rishi Sunak without him saying a single word about how he would govern. The person coming second (almost certainly Mordaunt) would be under pressure to withdraw at that point, although theoretically the decision could still go to a ballot of members, in which case we would not have a new PM until Friday. Former prime minister Boris Johnson has ended his bid to return to power within months of being ousted, claiming that although he had the numbers, he would not run to replace Liz Truss, who resigned as Conservative party leader on Thursday after just 45 days in office. That is the time when nominations close and Penny Mordaunt, the only other candidate still in the contest, is struggling to collect 100 names. It will be the first time since 1940 that a new PM has taken over for the second time since the previous general election. And it will be the first time since 1834 that the we’ve had three prime ministers in year. And it looks very, very likely that by the end of the day Rishi Sunak will be the next prime minister. I’m Andrew Sparrow, taking over from Helen Sullivan, on a morning when the UK wakes up to learn that one national icon is staging a comeback, but it’s David Tennant as Dr Who (see 6.44am), not Boris Johnson as prime minister. Diwali is a five day festival celebrated by millions of Hindus, Sikhs and Jains across the world.

Rishi Sunak has emerged as the frontrunner in the race to become the UK's next prime minister, after Boris Johnson announced he was not standing.

She will become the shortest-serving prime minister in British history when she stands down. Candidates need the support of at least 100 Tory MPs to progress to the next stage. If two candidates remain and no-one withdraws, Tory party members will make the final decision in an online vote, with the winner declared by Friday "No one voted for this. Off to bed!" Essex MP James Duddridge, who gave the first indication that Mr Johnson was intending to run in the Tory leadership race, simply tweeted: "Well that was unexpected.

Rishi Sunak and Penny Mordaunt are in the race to lead the U.K.'s Conservative Party and Britain, with a deadline of 2 p.m. local time for nominations.

local time to secure the endorsements of at least 100 of their party colleagues in Parliament (out of 357). Contenders to lead the ruling Conservative Party and the country face a deadline of 2 p.m. After former prime minister

'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. [in the first stage of the race for No 10](https://www.telegraph.co.uk/politics/2022/10/24/tory-leadership-race-scenarios-what-could-happen-sunak-mordaunt/). [In a statement on Sunday evening, ](https://www.telegraph.co.uk/politics/2022/10/23/boris-johnson-statement-full-tory-leadership/)Mr Johnson said there was a "very good chance" he could have been back in No 10 by the end of the week if he had stood. [limited time to get the necessary nominations.](https://www.telegraph.co.uk/politics/2022/10/24/rishi-sunak-pm-boris-johnson-tory-leadership-race/) If she fails Mr Sunak will be declared leader without a contest. ](https://www.telegraph.co.uk/politics/2022/10/23/rishi-sunak-set-become-pm-boris-johnson-pulls-tory-leadership/) [new Tory leadership race](https://www.telegraph.co.uk/politics/2022/10/24/tory-leadership-race-candidates-who-backing-next-prime-minister/) had been seen as a two-horse race between the two men, with Penny Mordaunt's hopes fading.

The former chancellor is the favourite to lead the Tories after ex-PM Boris Johnson dramatically withdrew from the race he never officially entered.

“There would probably be a run on the pound, that would see interest rates climb (and) mortgages go up as well. He worked to secure the mandate and the majority we now enjoy. If he had stood, he said there was a “very good chance” the members would have voted him back into No 10 by the end of week and that he would have been “well-placed” to lead the party to victory in a “And though I have reached out to both Rishi and Penny – because I hoped that we could come together in the national interest – we have sadly not been able to work out a way of doing this. “Penny is the unifying candidate who is most likely to keep the wings of the Conservative Party together and polling shows that she is the most likely candidate to hold on to the seats the Conservative Party gained in 2019,” the source said. In a statement on Sunday evening, he said there was a “very good chance” he could have been back in No 10 by the end of the week if he had stood.

Sterling rises after Boris Johnson quits race and former chancellor pulls ahead of rival Penny Mordaunt.

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MP Christopher Chope says there will be continuing rebellions unless Sunak holds general election if he becomes PM.

It also found she was seen as more trustworthy, “highlighting that she is the only candidate who can unite the country and restore trust in government”, her campaign said. We’re going to have continuing rebellions as we try to change policies.” Christopher Chope, the MP for Christchurch and a supporter of Johnson, warned on Monday that Sunak was seen as having undermined Johnson and Truss, and thus could not expect loyalty from Conservative MPs. “Respect is a mutual thing. “Unlike Boris, who did have a mandate, we now have the prospect of having a Conservative party leader who doesn’t have the mandate from the country and won’t even have a mandate from the membership either.” The former prime minister said he had 100-plus MPs backing him but others were sceptical.

Rishi Sunak looks set to become the next U.K. prime minister with results to be announced Monday afternoon.

Pressure had mounted for the short-lived leader to quit after her new finance policies flopped and caused market chaos. Gilt yields fall [Sterling](/quotes/GBP=/) rose and 10-year gilt yields fell to their lowest level in a month in early trade Monday, briefly hitting 3.814%, down 21 basis points for the session. Monday, by which point candidates need to have secured at least 100 nominations from fellow Tory lawmakers to stand as leader of the party. Sunak could be confirmed as the next leader of the Conservative Party and U.K. [Liz Truss announced her resignation](https://www.cnbc.com/2022/10/20/uk-prime-minister-liz-truss-resigns-after-failed-budget-and-market-turmoil.html) Thursday after just 44 days in the role. [a former defense minister](https://www.cnbc.com/2022/07/20/penny-mordaunt-the-navy-reservist-battling-to-succeed-boris-johnson.html), who came behind Sunak in the original contest to take charge of the Conservative Party in September. [current Finance Minister Jeremy Hunt](https://www.cnbc.com/2022/10/17/uks-new-finance-minister-sets-out-.html) and former Finance Minister Sajid Javid, along with current Interior Minister Grant Shapps and his predecessors [Suella Braverman](https://www.cnbc.com/2022/10/19/uks-suella-braverman-to-reportedly-leave-role-as-interior-minister-.html) and Priti Patel. LONDON — Former Finance Minister Rishi Sunak looks set to become the next prime minister of the U.K., with votes to be counted Monday afternoon. [according ](https://news.sky.com/story/boris-johnson-pulls-out-of-conservative-leadership-race-12728576) [t](https://news.sky.com/story/next-prime-minister-uk-latest-boris-johnson-rishi-sunak-truss-mordaunt-12593360) [o Sky News](https://news.sky.com/story/boris-johnson-pulls-out-of-conservative-leadership-race-12728576), while Mordaunt is thought to have around 25, with 357 lawmakers eligible to vote. - Former Finance Minister Rishi Sunak looks set to become the next prime minister of the U.K., with votes to be counted Monday afternoon. [he dropped out of the race](https://www.cnbc.com/2022/10/23/former-uk-pm-boris-johnson-reportedly-pulls-out-of-leadership-race.html) late Sunday. - Former Defense Minister Penny Mordaunt is his only rival after former Prime Minister Boris Johnson pulled out of the race Sunday.

The ex-chancellor is in a strong position after the former Prime Minister resigned, but Penny Mordaunt is expected to fight on. - Advertisement -. According to ...

The outcome will be announced on Friday, October 28. I want to fix our economy, unite our Party and deliver for our country. That’s why I am standing to be the Leader of the Conservative Party and your next Prime Minister.

Giving the former prime minister a role in the new Government could help ensure it starts on a united footing and help keep Mr Johnson's supporters on side.

“We will always be grateful to him for that. It follows Mr Sunak’s statement on Sunday night which read: “Boris Johnson delivered Brexit and the great vaccine rollout. If he had stood, he said there was a “very good chance” the members would have voted him back into No 10 by the end of week and that he would have been “well-placed” to lead the party to victory in a general election in 2024. Writing early on Monday morning, Ms Mordaunt said: “In taking this difficult decision last night Boris Johnson has put country before party, and party before self. I truly hope he continues to contribute to public life at home and abroad.” In separate messages online, both candidates praised Mr Johnson for pulling out of the race.

Candidates need to garner the support of 100 Tory MPs by this afternoon to be in with a chance of becoming Prime Minister.

“I am asking you for the opportunity to help fix our problems. Those close to him say he has garnered the necessary support, but this hasn't been confirmed. “The challenges we face now are even greater. Rishi is the only candidate that fits the bill and I am proud to support him.” A spokeswoman said: “Penny is speaking to colleagues from across the party. back to the guy that only … Only two Tory MPs have put themselves forward at this stage - and both are busy generating as much suport from their colleagues as possible. If she succeeds, there will be a vote later this afternoon to decide it. “But we are in dire straits now. We now have two candidates - Penny Mordaunt and Rishi Sunak, though at the moment Sunak is the only one to have achieved the needed support of 100 Tory MPs to run. “We have now passed 90. Penny Mordaunt is “getting the numbers” required to face Rishi Sunak in a ballot of Tory members and is “in it to win it”, according to her campaign.

The former chancellor is the firm favourite to replace outgoing leader Liz Truss after weeks of turmoil.

The former U.K. Treasury chief was runner-up to Liz Truss in the contest to replace the scandal-plagued Boris Johnson as Conservative Party leader and prime ...

"In the last five years, we've seen ethnic minority chancellors of the Exchequer, home secretaries, foreign secretaries at a remarkable pace. "Ethnic diversity has become a new normal at the top table of British politics," Katwala acknowledges. At 42, he'll also be the youngest prime minister in more than 200 years. — faces enormous economic challenges. Sunak's rise in British politics has been nothing short of meteoric. Sunak will be the first British Asian to become prime minister and the first nonwhite to take the top job.

Boris Johnson exited the race to be Tory leader – and therefore Prime Minister – late on Sunday, claiming that “you cannot govern effectively unless you ...

[Sign up to LabourList’s morning email for everything Labour, every weekday morning.](https://labourlist.org/sign-up/) [told Sky News](https://twitter.com/SkyNews/status/1584445575113555968%C2%A0) this morning: “I do not see why we should sit back today and just accept that it’s ok to have somebody simply crowned… After the nomination period, a ballot of Tory members had been planned – but if Mordaunt cannot make the threshold by this afternoon, as many suspect, today will effectively be a coronation.

Patel becomes latest senior figure to switch support – having backed Boris Johnson at weekend.

Speaking on BBC Radio’s Good Morning Scotland, Mr Bowie said: “A general election – even for a snap general election – by law necessitates six weeks of campaigning. But key Sunak backer Grant Shapps, the home secretary, insisted there was no need for a general election. [Terms of use,](https://www.independent.co.uk/service/user-policies-a6184151.html) [Cookie policy](https://www.independent.co.uk/service/cookie-policy-a6184186.html) and [Privacy notice.](https://www.independent.co.uk/service/privacy-policy-a6184181.html) A Mordaunt campaign spokesperson said: “Penny is speaking to colleagues from across the party. [Privacy policy](https://policies.google.com/privacy?hl=en) and [Terms of service](https://policies.google.com/terms?hl=en) apply. Penny’s numbers are well above the published figures already, even without any of Boris supporters.” “There are big challenges ahead and the national interest requires us to show resolution and fortitude under new leadership,” he tweeted. “We’re confident Penny will get above the 100 mark,” backer Damian Green said. Registration is a free and easy way to support our truly independent journalism [Nadine Dorries](/topic/nadine-dorries) said it will be “impossible” to avoid a general election after her former boss pulled out of the Tory leadership contest. [Penny Mordaunt](/topic/penny-mordaunt) falls short of the threshold by the 2pm deadline, or pulls out of the contest. [Priti Patel](/topic/priti-patel) and [Michael Gove](/topic/michael-gove) have come out in support of [Rishi Sunak](/topic/rishi-sunak) as Conservative leader, as the former chancellor hopes to be declared the next prime minister within hours.

Tobias Ellwood, chair of the defence select committee and a supporter of Rishi Sunak, urged fellow Conservative MPs to rally around the former chancellor.

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Britain is selecting its fifth prime minister in six years. Four British leaders have resigned since the 2016 vote to leave the European Union.

11 Downing Street – the office and home of the Chancellor of the Exchequer – when finance minister was one of the proudest moments of his career. Truss was the fourth British prime minister to resign since the country's 2016 vote to leave the European Union. Sunak is a former banker and served as Chancellor of the Exchequer – finance minister – in Boris Johnson's government. [Johnson pulled out of the contest to replace Truss](https://www.usatoday.com/story/news/world/2022/10/23/boris-johnson-uk-prime-minister/10584721002/) late Sunday, after signaling for several days that he was mounting a dramatic return to Downing Street after his own resignation in July. He is Britain's first Hindu prime minister, and the country's first leader of color. British voters elect a party, not a specific leader, meaning the ruling party has latitude to change a prime minister without calling an election.

Almost 200 Tory MPs publicly backed the ex-chancellor, who was elected party leader without a vote.

"This decision is an historic one and shows, once again, the diversity and talent of our party," Ms Mordaunt wrote in a tweet. Mr Sunak will be the fourth consecutive prime minister - after Theresa May, Boris Johnson and Ms Truss - to take power without a general election. Sources told the BBC that Mr Sunak and Mr Johnson met on Saturday as Tory MPs decided who to back in the second Tory leadership contest in four months. Ms Mordaunt took the leadership race to the wire but came under pressure to unite behind Mr Sunak after former Prime Minister Boris Johnson withdrew from the contest on Sunday. Mr Sunak - a 42-year-old practising Hindu - is expected to take office in the coming days now the result of the Tory leadership contest is known. Mr Sunak's coronation, in effect, as Tory leader caps a rapid political comeback by the former chancellor after he lost out to Ms Truss in the last leadership contest during the summer.

LONDON (AP) — Former Treasury chief Rishi Sunak is set to become Britain's next prime minister after winning the Conservative leadership race Monday — and ...

In his Sunday statement, Johnson insisted he was “well placed to deliver a Conservative victory” in the next national election, due by 2024. The Conservative Party turmoil is fueling demands for a national election. The prospect of a return by Johnson had thrown the already divided Conservative Party into further turmoil. But he was far behind Sunak in support, and said he had concluded that “you can’t govern effectively unless you have a united party in Parliament.” Sunak lost out to Truss in the last Conservative election, but his party now appears eager for a safe pair of hands to tackle soaring energy and food prices and a looming recession. Truss executed a series of U-turns and replaced her Treasury chief but faced rebellion from lawmakers in her party that obliterated her authority.

Former chancellor secures overwhelming backing of Tory MPs as rival Penny Mordaunt withdraws.

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A popular former chancellor of the exchequer under Boris Johnson's premiership, Sunak will be the first nonwhite to take the top job and the youngest prime ...

"In the last five years, we've seen ethnic minority chancellors of the Exchequer, home secretaries, foreign secretaries at a remarkable pace. "Ethnic diversity has become a new normal at the top table of British politics," Katwala acknowledges. At 42, he'll also be the youngest prime minister in more than 200 years. — faces enormous economic challenges. Sunak's rise in British politics has been nothing short of meteoric. Sunak will be the first British Asian to become prime minister and the first nonwhite to take the top job.

Mr Sunak, a former chancellor, secured the keys to No 10 just seven weeks after he lost out to Ms Truss in a previous Tory leadership race.

The truth of the matter is this country is going to suffer," she said. “I am humbled and honoured to have the support of my parliamentary colleagues and to be elected as leader of the Conservative and Unionist Party," Mr Sunak said. “That to me is equally democratic,” Mr Herman said. Deputy Labour leader Angela Rayner said: “Rishi Sunak has no mandate and no idea what working people need. He should call an early general election." “It is insidious the way they’ve got Rishi Sunak in, they wanted him in, and he’s in… “This decision is an historic one and shows, once again, the diversity and talent of our party," she wrote. “As you become UK PM, I look forward to working closely together on global issues, and implementing Roadmap 2030," he tweeted. “I’m fuming right now, we never voted for Rishi Sunak,” the 33-year-old told the PA news agency. Right now I’m ashamed to be a Conservative member.” He said North Norfolk Conservative MP Duncan Baker, who backed Mr Sunak, “consults very widely in the constituency, not just among Conservative party members, and listens to those views and makes an informed decision on who to back for leader." “It is the greatest privilege of my life, to be able to serve the party I love and give back to the country I owe so much to.

His wife, Akshata Murty, is the daughter of a billionaire; their garden parties are one of the hottest tickets in their home town.

Between 2018 and 2019 he served as parliamentary undersecretary of state for local government, before entering cabinet in 2019 as chief secretary to the Treasury. These include a Grade II-listed manor house in the village of Kirby Sigston, near Northallerton, in his Richmond constituency, which was bought for £1.5m in 2015; and a five-bedroom townhouse in South Kensington, London, which records show was last sold for £4.5m in 2010. Murty runs her own fashion label, Akshata Designs, and is also the director of a venture capital firm founded by her father in 2010. He was re-elected in 2019 with a majority of 27,210. Their two children, Krishna and Anoushka, appeared with Sunak on the campaign trail in the leadership contest against Liz Truss during the summer. Sunak was born in Southampton in 1980 to Indian parents who had moved to the UK from east Africa.

Almost 200 Tory MPs publicly backed the ex-chancellor, who was elected party leader without a vote.

"This decision is an historic one and shows, once again, the diversity and talent of our party," Ms Mordaunt wrote in a tweet. Mr Sunak will be the fourth consecutive prime minister - after Theresa May, Boris Johnson and Ms Truss - to take power without a general election. Sources told the BBC that Mr Sunak and Mr Johnson met on Saturday as Tory MPs decided who to back in the second Tory leadership contest in four months. Ms Mordaunt took the leadership race to the wire but came under pressure to unite behind Mr Sunak after former Prime Minister Boris Johnson withdrew from the contest on Sunday. Mr Sunak - a 42-year-old practising Hindu - is expected to take office in the coming days now the result of the Tory leadership contest is known. Mr Sunak's coronation, in effect, as Tory leader caps a rapid political comeback by the former chancellor after he lost out to Ms Truss in the last leadership contest during the summer.

He is opposed to an independence referendum and wants to lead "the most active UK-wide government for a decades". What else has he had to say about Scotland, ...

However, he said now was not the time for "an unnecessary, divisive constitutional referendum". There is a practical angle to this. In terms of policies, Mr Sunak said he wanted to abandon the Westminster "devolve and forget" mentality and lead "the most active UK-wide government in decades". But it would provide an immediate boost to Holyrood's finances - the Scottish share of a giveaway to taxpayers south of the border - and pose a question to ministers about whether to pass it on to the public, or plough it into public services. During the summer contest he said he wanted the basic rate to fall to 16p in the pound by the end of the decade. He has also pledged to send UK ministers north of the border more frequently, and suggested that his government would "hold the SNP to account for its failings" in devolved areas. There was The SNP used an image of his face on most of their leaflets, even for Holyrood and local council elections, while Labour saw him as an asset in their bid to regain some ground and relevance in Scotland. [saw Mr Johnson as a liability](https://www.bbc.co.uk/news/uk-scotland-scotland-politics-63344492) to their own fortunes and that of the union, and leader Douglas Ross was already in an awkward position having performed a double U-turn on the question of his future over the summer. He said his approach to the first minister would be to "take her on and beat her", and has pledged to provide the Scottish Conservatives with extra campaigning support to do that. He is opposed to an independence referendum and wants to lead "the most active UK-wide government for a decades". Most Scottish Tory MSPs are delighted to have Mr Sunak in the job - particularly given the scare they had over the weekend with the prospect of a Boris Johnson comeback.

Environmental groups see new PM as welcome relief but restoring climate credentials will be difficult.

Instead he should unleash investment for insulation in the UK.” As climate and cost of living activists occupied parliament, he said he would deliver on net zero carbon emissions, adding his would be an “environmentally focused government”. “Thirdly, he should deliver the agricultural transition as promised in the 2019 manifesto, rewarding farmers handsomely for delivering for nature. “I think his whole approach would be less ideological and he has a great ability to pick up and comprehend complex detail quickly,” the former minister said. He thinks Sunak has listened to his more eco-minded colleagues: “In the hustings in the summer, when there were lots of candidates, we had a conservative environment network hustings for each of them and they all made their environmental pitches. If he becomes prime minister [banks and businesses] will have the certainty that all the environment acts we just passed will go ahead.” Secondly he should scrap proposals for He did, however, vote for more regulation of fracking in 2015. “Very early on Liz Truss launched this attack on nature – we will have to see what Rebecca Pow, a former environment minister who resigned after Partygate, said: “I’ve always known that Rishi completely understands the issue … Spiers hopes a new government could heal relations with green groups: “We need a secretary of state in Defra [the Department for Environment, Food and Rural Affairs] who can demand respect – perhaps George Eustice or Tracey Crouch. But after just over a month of a Liz Truss government, many see a Sunak premiership as a welcome relief.

David Cameron has congratulated Rishi Sunak – and himself too. He points out that 10 years ago he said he thought the Conservatives would be the first party in ...

One source close to Johnson claimed Tory donors had already been approached about funding a potential campaign, and that wealthy party backers had discussed the option at the Conservative conference earlier this month. One senior MP said that a Johnson revival could lead to a spate of byelections with seats lost to Labour or the Lib Dems, undermining his premiership. Until that investigation is complete and he is found guilty or cleared, there should be no possibility of him returning to government.” “It is very hard to see how anyone on the right of the party comes through now,” one long-serving Tory said. Another said the Tory heavyweight felt his premiership had been unfairly “cut off before its time” and that he still had plenty to do at No 10. He wasn’t moving but staff later told me he was conscious and talking.” “We had to evacuate the ride on a bend and staff were present to help people off. He added: “I shouted for the ride to stop and staff were clearly panicking to get it stopped. “We decided to come back in a bit. It looked like the last few carriages were loose and wobbling.” This decision is an historic one and shows, once again, the diversity and talent of our party. They have taken this decision in good faith for the good of the country.

Yet the past seven years in politics have not been gaffe-free for the former Goldman Sachs banker and ex-chancellor. Taking from the poor to help the rich.

It turned out the red Kia car he filled up with petrol in front of the cameras actually belonged to an employee at the Sainsbury’s service station. Well, not working class,” he said. “I am a Coke addict, I am a total Coke addict,” he said

Following Liz Truss's resignation last week, Rishi Sunak has today (24 October) been confirmed as new Conservative Party leader.

But expert organisations [have stated in 2022](https://www.edie.net/9-pressing-green-policy-challenges-the-next-uk-prime-minister-must-tackle/) that the approach taken by Sunak is not foolproof, with major issues remaining. Research from the Overseas Development Institute found that, under Sunak, the UK gave $3.2bn towards this goal in 2020, a little over half of what was calculated as the nation’s fair share. Sunak was also behind some decisions that have proven vastly unpopular across the UK’s green economy as Chancellor. Additionally, Sunak dedicated time in his leadership bid to emphasise the importance of new and expanded building energy efficiency schemes – but provided scant detail as to specific plans. Measures taken to support this transition include the launch of a £16bn sovereign green bond package and the launch of a net-zero transition plan mandate for large, high-emitting businesses from 2023. Sunak had stated an intention to get rid of remaining EU law within 100 days of being PM and is a vocal advocate for Free Ports. Under Sunak, the Government may well press ahead with plans to effectively ban solar planning applications on swathes of farmland. The Climate Change Committee (CCC) has recommended keeping the ban in place to support an orderly net-zero transition. At present, the ban has been lifted, but ‘local support’ has not been formally defined. Maintaining the moratorium on fracking was a pledge detailed in the Conservative Party Manifesto at the last general election in 2019. With this in mind, edie takes a look at Sunak’s record on climate, nature and energy. Following Liz Truss’s resignation last week, Rishi Sunak has today (24 October) been confirmed as new Conservative Party leader.

Mr Sunak was the only Tory leadership candidate to get the backing of at least 100 Conservative MPs, meaning he will become leader without the party's members ...

"I am resigning as leader of the Conservative Party. Announcing her resignation, the prime minister said: "I recognise I cannot deliver the mandate on which I was elected by the Conservative Party. [Rishi Sunak](https://www.bournemouthecho.co.uk/news/national/uk-today/23073109.rishi-sunaks-policies-expect-becomes-prime-minister-today/) will become the [next Prime Minister](https://www.bournemouthecho.co.uk/news/national/uk-today/23073109.rishi-sunaks-policies-expect-becomes-prime-minister-today/) of the UK after gaining the backing of Tory MPs today. [former Chancellor](https://www.bournemouthecho.co.uk/news/national/uk-today/23073109.rishi-sunaks-policies-expect-becomes-prime-minister-today/) was initially opposed by Boris Johnson, who backed out of the leadership race over the weekend despite claiming to have received sufficient support from MPs to continue, and Penny Mordaunt, who was unable to gather the 100 backers needed to proceed in the contest. Unlike Mordaunt, Mr Sunak swiftly hit the threshold of 100 nominations from Conservative colleagues ahead of the deadline of 2pm on Monday before commanding the public support of about half the parliamentary party. Mr Sunak was the only Tory leadership candidate to get the backing of at least 100 Conservative MPs, meaning he will become leader without the party’s members having a vote.

The team in No 10 · Jeremy Hunt · Dominic Raab · Grant Shapps · Penny Mordaunt · Suella Braverman · Oliver Dowden · Robert Jenrick.

The foreign secretary has won plaudits for his role so far but could find that Sunak needs to make space at the top. Jacob Rees-Mogg is probably top of the list for an exit. Neither has he led the health department, which is facing a multitude of troubles. If Sunak wants a problem solver in a department, he may turn to Gove, who has done almost every job going, apart from a great office of state. He is loyal to Sunak and has been working on the 31 October statement, which will be the first big test of Sunak’s premiership. Having come third in the last leadership contest, she was tipped as a possible foreign secretary but had to settle for Commons leader. Jenrick was among the few Truss supporters who made it into her ministerial team albeit as a junior health minister rather than the cabinet role he had enjoyed previously. Eleanor Wolfson, a Treasury and Department for Work and Pensions veteran who has also worked for the Bill & Melinda Gates Foundation, is tipped to be chief of staff. Dowden characterised his decision as taking responsibility but it was more widely viewed as withdrawing confidence in the then prime minister. It would be an obviously high-profile fit for one of Sunak’s closest allies. His number two at the Treasury, Ed Argar, is also tipped to stay as chief secretary. Sunak’s long-serving and loyal media adviser Nerissa Chesterfield is likely to join him in No 10, along with other comms aides on the campaign team such as Oliver Dowden’s adviser Lucy Noakes.

Britain's first non-white PM used his upbringing in banking and academia to gain a Filofax that rivals royalty.

Mr Sunak would become the chancellor himself just two months later, and now he has risen to the very top. And in a tweet that would turn out to be more prophetic than intended, he shared a picture of himself and his then-boss at the Treasury, Sajid Javid, having watched the latest Star Wars film captioned “Great night out with the boss – Jedi Master”. He is friends with James Forsyth, political editor at The Spectator, from their school days and through him was sucked into the world of policy and, eventually, politics. Despite apparently thriving in the world of finance, Mr Sunak was eventually drawn into politics by the elite network that he built. He now limits himself to just one can of Coke a week, albeit with a nearby aide reportedly carrying an emergency can plus Twix for difficult circumstances. Combined, the two mini-scandals painted a picture of a man who, if it all went wrong, wouldn’t need to hang around to see the consequences. She is the daughter of Indian billionaire, N R Narayana Murthy, and a multi-millionaire businesswoman in her own right, with her own fashion label. However, the new premier’s path to power is more typical of his upper and middle-class colleagues in the Conservative Party. He took his oath as a member of Parliament on the Hindu holy book the Bhagavad Gita. Instead, he went to Stanford, the grand Californian university, to study for an MBA on a Fullbright scholarship. Disraeli, the son of a Jewish father who converted to Christianity, was a symbol of Victorian Britain’s 19th-century tolerance towards Jews. His achievement, which came during the annual Diwali celebrations, was hailed by many as a landmark for racial equality, the UK’s own version of the American dream.

The first 100 days of Rishi Sunak's Britain. New UK Prime Minister Rishi Sunak Takes Office. New Conservative Party leader and ...

“The prime minister and chancellor will spend a lot of time thinking about how they replace that scheme. By the time Sunak’s first 100 days are up, there will be pressure on the government to explain how it will support people with their energy bills past the spring if wholesale gas prices haven't drastically fallen. There is also the risk that Sunak himself will be dragged into the probe, given he too was fined over the Partygate scandal. That would likely be the first by-election in a Tory-held seat fought with Sunak as party leader. For Sunak it would represent both a concrete foreign policy achievement and an indication that the U.K. His task now will be to reassure people that the government will support them during another difficult economic period — only this time he is in a much tougher position. Both China and Taiwan have applied to join the CPTPP. Prime ministers tend to think of their first 100 days as a way to set the tone for their premierships. Sunak made combating inflation and keeping mortgages low a central theme of his leadership campaign over the summer. The first big political test for Sunak will be his Cabinet reshuffle. On Monday, Sunak told MPs he was ready to hit the ground running as he addressed them for the first time since becoming Tory leader. He is also likely to hand a big job to his leadership rival Penny Mordaunt.

Rishi Sunak is set to become the fifth prime minister in just over six years at a time of economic gloom.

And this for a party blamed by many for what's happened in the last few months, and one that is currently languishing in a desperate spot in the opinion polls. And then it'll be time to shape a government in his own image, while seeking to address the criticism levelled by many at Ms Truss for building an administration that froze out almost all supporters of Mr Sunak. It's the moment when all new prime ministers talk to the country and talk to the archive - the moment that will get played back weeks, months or years later when they leave and will be used to benchmark a point in history, if they're lucky. And one of the many oddities of the last few weeks was a leadership race done at breakneck speed - start to finish in four days - in which we didn't hear a thing in public from two of the three wannabes. And Mr Sunak said no more than the contents of a social media post saying he was in the running. Leading a fractious party, at a time of economic gloom, a war in Europe and without a mandate to call their own from the electorate.

Foreign Secretary James Cleverly told Sky News that the new PM's government should feature the best ministers available - rather than focusing on those who ...

who still think Rishi knifed Boris Johnson in the back." I know that Rishi understands that," Mr Cleverly said. Suella Braverman and Kemi Badenoch - favourites of Conservative members to the right of the party - will also be hoping to serve in Mr Sunak's top team after endorsing his latest campaign. There is speculation that she could replace Mr Cleverly in the Foreign Office, and a source close to Ms Mordaunt has told Sky News that she would like to be offered the role. Reports suggest he is planning to build a cabinet of "all the talents" that will see the political return of the "adults". Rishi Sunak urged to overhaul the cabinet as he begins his first day as PM

LONDON (AP) — Rishi Sunak ran for Britain's top job and lost . Then he got another shot — and the chance to say “I told you so.”

The practice was legal, but it looked bad at a time when Sunak was raising taxes for millions of Britons. Sunak was cleared of wrongdoing, but the revelations still hurt. He also faced questions about his finances and those of his wife. “I grew up working in the shop, delivering medicines,” he said during the campaign. An instinctively low-tax, small state politician who idolizes former Prime Minister Margaret Thatcher, he nonetheless forked out billions in government money to keep people and businesses afloat during the pandemic. Within 48 hours, some 50 members of the government had quit, and Johnson [was forced to step down](/article/boris-johnson-what-to-know-faad810ff08e041130e1759cf5a540e7). In Britain’s 2016 Brexit referendum, he supported leaving the European Union — a risky career move, since it went against the Conservative government’s policy. The [near-simultaneous resignations](/article/boris-johnson-london-government-and-politics-76115f838dc9525f9b0a66ae3f162dfc) of Sunak and Health Secretary Sajid Javid on July 5 set off a chain reaction. Sunak was born in 1980 in Southampton on England’s south coast to parents of Indian descent who were both born in East Africa. Treasury chief was runner-up to Liz Truss in the contest to replace the scandal-plagued Boris Johnson as Conservative Party leader and prime minister. [warned in the last campaign that Truss’ tax-cutting economic plans were reckless](/article/boris-johnson-london-liz-truss-33cbdb813d1eaf74eabf93c2353ffc5c) and would cause havoc. At 42, he’ll also be the youngest prime minister in more than 200 years, a political prodigy whose youthful looks, sharp suits, and smooth, confident manner saw him dubbed “Dishy Rishi” by the British media.

The UK newspaper front pages lay out the difficult path ahead for the incoming PM, and question the validity of his victory.

Under a picture of Sunak receiving a heroes welcome at the Conservative head office in London, the paper’s deputy political editor reports that he told MPs he would “put an end to the Conservative psychodrama” and “prioritise ‘policies not personalities’”. The main image shows Sunak holding a lightsaber. The Financial Times focuses on the economic challenges that lie ahead for the new prime minister and says that the “markets look forward to ‘dullness dividend’ in the wake of Truss turbulence”. Under the headline “A new dawn for Britain” the paper says that the “Tory party fightback starts here”. “He will also make history as the first Hindu to lead the country”. The story also notes that “he will become the third Conservative prime minister in under two months and the fifth in six years.”

Sunak's chief political enemies, Boris Johnson and Liz Truss, are defeated and unlikely to return. Senior Tories from across the party are uniting behind him.

Inside the opposition leader’s office, Sunak is widely thought to be beatable — and one Labour adviser’s verdict was succinct. books — likely through tax hikes and spending cuts — at a time the National Health Service and other parts of the state are already under immense strain. “Frankly, it’s quite obvious that what Rishi was warning of in the summer has come to pass, and hopefully he’s now in a position to rectify it,” said Andrew Bowie, a Conservative MP who was one of Sunak’s early backers. More broadly, he must seek to balance the U.K. We’d rather that we weren’t in the position we are in.” As the summer progressed — despite opinion polls showing his message was not landing well with the Tory grassroots — he began warning Truss’ economic ideas could cause an “inflationary spiral” likely to push up interest rates. We are not like ‘we told you so.’ We just have a big challenge, and we have got to fix it. “It’s not gloating,” one Tory activist insisted. Truss sent the pound crashing to record lows against the dollar while government borrowing costs surged. “We are relieved, overwhelmed, and very privileged — and determined to make it work. The markets are slowly releasing their grip on Britain’s throat. Senior Tories from across the party are uniting behind him.

Rishi Sunak has been challenged to deliver for the West Midlands after Tory MPs made him the latest Prime Minister.

He needs to win over the trust of the people and deliver for the West Midlands. Ninder Johal, deputy lieutenant for the West Midlands, said Mr Sunak becoming PM heralded "a remarkable day for ethnic minorities in this country". "He and his team will have my full support as would any leader at this difficult time," he added.

The FT's Henry Mance will tell us more about Sunak and his challenges. Plus, we'll tell you why Chinese tech stocks nosedived on Monday. I'm Marc Filippino, and ...

Make sure you check back tomorrow for the latest business news. You can read more on all of these stories at FT.com. If you look at the line-up of the current Chinese Communist party politburo, it’s a team that you would not look to calm markets, for example, as you did in, I think March it was, when Liu He, one of the top Communist party leaders, came out and said, everything is fine, we’re here to support markets. If that wasn’t enough to make some investors uneasy, the country’s third-quarter GDP numbers came up short of the government’s growth target. If you want to know more about Rishi Sunak and his new government, I’ll be hosting a Twitter space today along with FT political analysts. They immigrated to the UK in the 1960s. And the 42 year old may just be what the Conservative party needs right now. I’m Marc Filippino, and here’s the news you need to start your day. The UK’s former chancellor, Rishi Sunak, will become the country’s prime minister today. The FT’s Henry Mance will tell us more about Sunak and his challenges. Tory lawmakers voted him in after months of political turmoil. Today, Rishi Sunak will become the UK’s youngest prime minister in modern times.

The U.K.'s new prime minister and his wife, the daughter of an Indian tech billionaire, have a collective net worth higher than the personal fortune of King ...

[she confirmed in April](https://www.bbc.com/news/uk-politics-61027058) that she had “non-domicile” status in the U.K.—allowing her to avoid dividend and capital gains taxes in Britain. Born in Southampton to parents of Indian descent who emigrated from East Africa, Sunak attended the exclusive Winchester College boarding school and waited tables at an Indian restaurant during summer breaks. Through a spokeswoman, Murthy told the BBC that she paid about $34,000 a year to maintain that status, a fee charged if a person has lived in the U.K. Murthy is also a director at and owns a small stake in boutique gym chain Digme Fitness, which was hard-hit by the Covid-19 pandemic and was Altogether, Forbes estimates Sunak and his wife Murthy are worth roughly $810 million—more than a quarter of a billion dollars richer than the [$500 million personal fortune of King Charles III](https://www.forbes.com/sites/giacomotognini/2022/09/15/how-rich-is-king-charles-iii-inside-the-new-monarchs-outrageous-fortune/). Murthy’s firm was also [reportedly an early investor](https://www.bloomberg.com/news/articles/2022-05-30/rishi-sunak-s-wife-akshata-murty-builds-catamaran-ventures-ties-to-rich-families#xj4y7vzkg) in dara5, a private investment company established by a member of Qatar's ruling family. As an Indian citizen, Murthy is a tax resident of her home country and Murthy drew scrutiny for her tax status earlier this year, when Sunak served as Chancellor of the Exchequer—Britain's finance minister and the No. [contest for leadership of the Conservative Party,](https://www.forbes.com/sites/roberthart/2022/10/24/rishi-sunak-selected-as-britains-next-prime-minister-heres-what-to-know/?sh=35780cd37691) Rishi Sunak is set to become the United Kingdom’s next prime minister. Besides her stake in Infosys, she owns Catamaran Ventures UK, the British branch of her father’s venture capital and private equity firm. [reportedly spending](https://www.standard.co.uk/homesandproperty/celebrity-homes/rishi-sunak-luxury-property-portfolio-b993765.html) $450,000 to install a leisure center with a 40-foot swimming pool, a gym and an outdoor tennis court. Narayana Murthy](https://www.forbes.com/profile/nr-narayana-murthy/), the cofounder and retired chairman of Indian tech giant Infosys, whose net worth is estimated by Forbes at $4.5 billion.

New Conservative party leader to meet King Charles at Buckingham Palace.

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The new Tory leader was asked to form a government during an audience with the King at Buckingham Palace. | ITV National News.

They are chaotic and who’s to say Rishi Sunak isn’t going to be out in six months’ time because you can hear the knives sharpening in Westminster of the disgruntled Borisites … Mr Sunak will look to build a Cabinet of “all the talents” that will see the political return of the “adults”, according to reports. He said: “The Conservative Party is a sclerotic mess. Mr Sunak is expected to address the nation just before noon, before entering No 10 as the UK’s first British-Asian PM and the youngest for more than 200 years at the age of 42. He made note of how he will “always be grateful” to Boris Johnson for his “incredible achievements” in No 10. Speaking on the steps of Downing Street he promised to "earn" the nations trust as it stares down a "profound economic crisis".

Rees-Mogg resigns as business secretary and Lewis relinquishes justice secretary role as Sunak begins to assemble cabinet.

Buckland had told friends he expected to go after switching support from Sunak to Truss over the summer. “We have a duty to the country to do so, at a time of economic hardship for so many. Sunak sacked Chloe Smith as work and pensions secretary and the under-fire Wendy Morton as chief whip. We now have an opportunity to reunite and rebuild, and we must take it. And he wouldn’t want me in his cabinet anyway,” he told Sky News in July. [James Cleverly](https://www.theguardian.com/politics/james-cleverly) as foreign secretary, and appointing Dominic Raab as deputy prime minister and justice secretary, after the departure of nearly a dozen cabinet ministers.

Boris Johnson loyalist had called Sunak 'socialist' and claimed he would refuse to serve.

It is mandate that belongs to and unites all of us,” he said. “If it goes on like this, we will find that it is very difficult to win elections, and therefore we have to support Rishi Sunak,” he said on Tuesday. Asked if Mr Sunak was right to claim a mandate from the Tories’ 2019 election win, Labour’s chair Anneliese Dodds told the BBC: “That’s wrong … Markets remained largely unmoved by the entrance of Mr Sunak into No 10. The leader of the Conservative party is clearly not a socialist.” Asked about a job, Mr Rees-Mogg said: “I will do whatever he wants me to do. It was down around 0.5 per cent shortly after midday. [Terms of use,](https://www.independent.co.uk/service/user-policies-a6184151.html) [Cookie policy](https://www.independent.co.uk/service/cookie-policy-a6184186.html) and [Privacy notice.](https://www.independent.co.uk/service/privacy-policy-a6184181.html) But a source close to Mr Rees-Mogg said he knew he was not wanted. [Privacy policy](https://policies.google.com/privacy?hl=en) and [Terms of service](https://policies.google.com/terms?hl=en) apply. Wendy Morton is no longer Tory chief whip. Mr Rees-Mogg had said in July that he would “of course” refuse to serve in a Sunak government – describing him as a “socialist chancellor”.

He said he had been elected as Tory leader to "fix" the "mistakes" made by his predecessor, Liz Truss. Mr Sunak promised to deliver the manifesto that won the ...

"And the heart of that mandate is our manifesto," he said. Sir Keir said Mr Sunak "will not deliver for working people" and told his MPs to "ignore the noise", even if the new prime ministers gives the Tories "a significant poll bounce". And that work begins immediately." The prime minister said "the mandate my party earned in 2019 is not the sole property of any one individual - it is a mandate that belongs to and unites all of us". Mr Sunak - who was chancellor until July this year - said he would place "economic componence and stability at the heart of this government's agenda", warning that "will mean difficult decisions to come". But mistakes nonetheless.