Rishi Sunak met at Buckingham Palace on Tuesday with the king, who had just accepted the resignation of Liz Truss.
. In Britain’s constitutional monarchy, the monarch plays a ceremonial role in appointing government leaders.
Sunak was selected as leader of the governing Conservative Party on Monday as it tries to stabilize the economy, and its own plunging popularity, after the brief, disastrous term of Truss. "I am more convinced than ever that we need to be bold and confront the problems we face," she said. She stood by the free-market principles of "lower taxes" and "delivering growth," despite the market mayhem triggered by her Sept. 23 budget package.
Sunak becomes prime minister in a remarkable reversal of fortune just weeks after he lost to Truss in a Conservative election to replace former Prime Minister Boris Johnson. Party members in the summer chose her tax-cutting boosterism over his warnings that inflation must be tamed.
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