United kingdom new prime minister

Rishi Sunak. Dan Kitwood/Getty He was an early critic of Truss' now-failed tax plan Sunak went head-to-head with Truss for the premiership last month, earning 43% of the vote to Truss' 57%. Though he and Truss are both Conservatives, they did offer very different platforms, with Sunak criticizing her now-failed tax plan early on. During her short time in office, Truss' chancellor, Kwasi Kwarteng, announced a £45 billion tax cut package that would ultimately be her undoing. Upon making the announcement, the British pound collapsed and the London stock market went into free fall. Kwarteng was soon fired and the tax cut plan was reversed — though the damage to Truss, who ultimately left office amid the chaos — was done. Sunak had earlier predicted the havoc the plan would wreak, saying during his campaign against Truss: "I'd love to stand here and say that I'll cut taxes and it'll all be okay. But it won't, because there is a cost to these things. Costs of higher inflation, higher mortgage rates and eroded savings. This 'something for nothing' economics isn't conservative, it's socialism." The New York Times reports that Sunak continued to hold a green card after becoming chancellor, allowing him to live in the U.S. for months into the job. Separately, his wife, Akshata Narayan Murty — a U.K.-based fashion designer and the daughter of the founder of a multinational IT company — "was found to have claimed a tax status that allowed her to avoid paying taxes on some of her incom...

London —Rishi Sunak will be the next prime minister of the United Kingdom, following current premier "I pledge that I will service you with integrity and humility," Sunak said, at the headquarters of Britain's Conservative Party on Monday. "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." Sunak, who used to work in finance, is — alongside his wife, tech heiress Akshata Murty — one of the wealthiest people in the U.K. He served as treasury secretary under Boris Johnson, and many Conservative members of parliament — and many Brits in general — will be hoping that his economic credentials can help to stabilize a falling pound and skyrocketing inflation and interest rates. Britain's then-Chancellor of the Exchequer Rishi Sunak attends a cabinet meeting at 10 Downing Street, London, May 24, 2022. Daniel Leal/AP He was a vocal critic of the tax-cut-focused economic plan put in place under Truss just a few weeks ago, which sent shockwaves through international markets and eroded investors' confidence in the U.K. Despite virtually all of that plan being scrapped shortly after it was announced, global confidence in Britain's economic stability has yet to recover. On Monday, Sunak was able to secure the backing of over 100 of his fellow Conservative Party lawmakers, qualifying him as a candidate in the party's leadership contest that was triggered when Liz Truss announced her resignation. His main competitor...

Author • Ben Wellings Senior Lecturer in Politics and International Relations, Monash University Disclosure statement Ben Wellings does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment. Partners The Conversation UK receives funding from these organisations View the full list When Rishi Sunak was elected by Conservative MPs as their new leader and hence prime minister of the United Kingdom, the British nation breathed a sigh of relief: Had Johnson been re-elected leader it would have had serious consequences, not just for the Conservatives, but in the real world too. Only the most obtuse political observer could have failed to see that the optics of cutting short your Caribbean holiday to try to resolve a cost of living crisis was not good politics. It sounds hard to believe, but this was not obvious to everyone. Johnson garnered public support from some of the Brexiteer old guard like Jacob Rees-Mogg and in the But in characteristic fashion, Johnson exaggerated his chances. This latest act of self-promotion backfired and he withdrew from the leadership race on Sunday (regretably having missed half his holiday). Nevertheless, the fact that many Conservatives seriously thought a chaotic government could be brought under control by someone known for chaotic management, shows how deep the ideological divisions within the par...

For the second time in a matter of weeks, the people of the United Kingdom are about to get a new prime minister. The governing Conservatives selected Rishi Sunak to replace Liz Truss who was forced out following a catastrophic budget. The 42-year-old is the first prime minister of color and the first of Indian descent. Malcolm Brabant reports from Brighton, England. Read the Full Transcript • Judy Woodruff: The people of the United Kingdom are about to get a new prime minister for the second time in a matter of weeks. And this one will make history just by taking the job. That's after the selection process came to a sudden conclusion today. Malcolm Brabant reports from Brighton, England. (CHEERING AND APPLAUSE) • Malcolm Brabant: His two opponents, Boris Johnson and Penny Mordaunt, couldn't muster enough support from Conservative lawmakers. And they conceded to Sunak, making him prime minister by default. For many Tory members, Sunak is to blame for Johnson's demise after resigning as Treasury chief. That political turbulence has caused the Labor Party to call for general elections. But Sunak said today that won't happen. Sunak may portray himself as a fiscal savior. But he was in charge of Britain's pocketbook at the start of the recent economic downturn. Angela Rayner is deputy leader of the opposition Labor Party. • Malcolm Brabant: At a time of severe hardship for millions of Britons, Sunak's personal wealth grates with many. Sunak's wife, who was embroiled in a tax s...

Cookie banner We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our By choosing I Accept, you consent to our use of cookies and other tracking technologies. The United Kingdom’s next prime minister may be an even bigger Brexiteer than Boris Johnson. Liz Truss, the former foreign secretary, won the How Truss achieved that is a somewhat remarkable political story. A former Liberal Democrat and Her reinvention allowed her to ascend to the top of her party, and now the premiership. That rise says a lot about where the UK’s Conservative Party (or Tory party) is right now: Even though the UK officially broke with Europe, Brexit has also ballooned into an entrenched domestic political and culture war issue. Truss is the embodiment of this, which also says a lot about how she may lead — when it comes to the European Union, and beyond. Practically, that may mean even thornier relations between the UK and the EU at a time when the United Kingdom and the rest of the continent are dealing with “A question that Liz Truss will basically have to face is: How far does she want to escalate with the EU?” said Nicolai von Ondarza, EU/Europe research group leader at the German Institute for International and Security Affairs. “And for the EU side: How fast and how strong does one want to retaliate?” As the ...