Rishi Sunak will become the United Kingdom’s new prime minister after winning the contest by the ruling Conservative Party. The contest was caused by the resignation of Liz Truss last week. Sunak’s win occurred on Monday.
Liz Truss’s resignation occurred due to her disastrous tax plans and policy u-turns that caused the markets to plunge into chaos. The economic crisis that occurred caused the Bank of England to intervene, something that is unprecedented. Sunak will be steering a very divided country through an economic downturn. Sunak was supported by nearly 150 Members of Parliament, compared with 30 who supported Penny Mordaunt, the only challenger to Sunak. Both Sunak and Mordaunt had lost to Truss in an earlier race in July to appoint the prime minister after Boris Johnson resigned.