Monday, March 20, 2023

Rishi Sunak to become the next UK prime minister after months of turbulence

Rishi Sunak will become Britain’s next prime minister after he won the race on Monday to lead the Conservative Party, tasked with steering a deeply divided country through an economic downturn set to leave millions of people poorer.

One of the wealthiest politicians in Westminster, Sunak will become the country’s first leader of colour – and the country’s third prime minister in less than two months.He replaces Liz Truss, who only lasted 44 days before she resigned, needing to restore stability to a country reeling from years of political and economic turmoil, and seeking to lead a party that has fractured along ideological lines.

“It’s unite or die”, he told his lawmakers in parliament shortly after the announcement, according to one present in the room. Sunak told the party it faced an “existential crisis” and lawmakers should now focus on policy not personalities.

Sunak will step up to lead Britain as it heads for one of the toughest downturns in decades.

The multi-millionaire former hedge fund boss will be expected to launch deep spending cuts to try to rebuild Britain’s fiscal reputation, just as the country slides into a recession, dragged down by the surging cost of energy and food.

Sunak, likely to be appointed prime minister by King Charles on Tuesday, told Conservative lawmakers in Westminster the party needed to tackle Britain’s economic challenges after political turbulence hit borrowing costs and pushed mortgage rates higher.


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