BREAKING: King Charles III formally appoints Rishi Sunak as Britain's new prime minister
Sunak, the first British Asian to assume the role and a multimillionaire former banker, met withAfter receiving, the new monarch formally appointed Sunak prime minister and invited him to form a government. Sunak is now the U.K.'s third leader in seven weeks.
"The United Kingdom is a great country but there is no doubt we face a profound economic challenge," he said in a 90-second speech after winning the leadership contest Monday."We now need stability, and unity, and I will make it my utmost priority to bring our party and our country together." It soon became clear that Truss no longer had the backing of her bitterly divided party, let alone her country — she leaves office with an approval rating of just 6%, according toHe would have faced a colossal task without this upheaval: The U.K. is already mired in a daunting cost-of-living crisis that means millions of people may struggle to eat and heat their homes this winter.
Sunak won the ruling Conservative Party's leadership contest Monday after his two rivals failed to gather enough support from fellow lawmakers.Though Sunak is a former banker, it’s through his wife’s father, an Indian software tycoon, that the couple sits on an estimated 730 million-pound fortune — making them richer than the king and Camila, the queen consort.It happened only four times between Margaret Thatcher in 1979 and David Cameron in 2010.
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