British leader of Indian-origin Rishi Sunak won the Conservative Party leadership race to become the next United Kingdom's prime minister following incumbent premier Liz Truss's resignation on Thursday. The new PM elect will meet with Britain's King Charles III on Tuesday who will formally anoint him as the country's new Prime Minister. With taking charge, Sunak will immediately have to take measures to grapple with UK's dwindling economy which Truss failed to manage. Her economic programme snowballed the crisis, swirling the country into further chaos which even triggered public demands to oust her.
Outgoing Prime Minister Liz Truss will chair her final Cabinet meeting at 10 Downing Street on Tuesday morning before she makes her way to Buckingham Palace to formally tender her resignation to the 73-year-old monarch. Sunak, 42, will then arrive at the palace for his meeting with the King, who will formally anoint him as the UK’s new Prime Minister. The former chancellor will then make his first prime ministerial address on the steps of 10 Downing Street, expected to be joined by wife Akshata Murty and daughters Krishna and Anoushka. "The UK is a great country, but there is no doubt we face a profound economic challenge," said Sunak in his first address as Prime Minister-elect on Monday.