Rishi Sunak is set to become UK's next Prime Minister after winning race. While her administration ultimately rolled back virtually all of her plans, the damage was done and U.K. markets remained in chaos. Sunak's appointment is another first for Britain - he will become the country's first prime minister of Indian origin. Here are the contenders to become the next prime minister. He'll be the first person of color to hold the office. Legal Statement. Sunak announced his candidacy to replace Truss on Sunday, garnering widespread support after Johnson dropped out of the race. Rishi Sunak, 42, the former chancellor of the Exchequer whose resignation on Tuesday dealt a heavy blow to Mr. Johnson, has long been seen as a potential party leader, gaining popularity through his role in delivering aid packages for businesses and individuals during the pandemic. The committee sets the rules for selecting and changing the party's leader. That showing won her a seat in Ms Trusss cabinet as the secretary of state for international trade but she is still seen as a prospect for the more distant future, and is thought unlikely to win enough nominations to meet the high threshold for this contest. The return of Mr Johnson, Ms Trusss predecessor, would mark one of the most unlikely comebacks in British political history. Rishi Sunak, 42, who is the son of Indian immigrants, won the contest to replace the ousted Liz Truss, who resigned under pressure last Thursday after her economic agenda caused turmoil. 0:39. Want CNET to notify you of price drops and the latest stories. Below you'll find the latest odds for the Next UK Prime Minister after Boris Johnson (updated on 20th October 2022). In there, he showed a capacity to marshal the whole party.". The Conservatives do not have to hold one until January 2025. Mr. Javid is a son of Pakistani immigrants who arrived in Britain in the 1960s. He added that Sunak had shown composure when he became finance minister just as the COVID-19 pandemic hit Britain. Penny Mordaunt, who lost out to Sunak, said his election was an "historic one and shows, once again, the diversity and talent of our party," she said. By. Sunak attended Oxford University and Stanford University where he met his wife Akshata Murthy, whose father is Indian billionaire N. R. Narayana Murthy, founder of outsourcing giant Infosys Ltd. All rights reserved. LONDON Rishi Sunak looked set to become Britain's next prime minister after his rival Boris Johnson quit the race, admitting he could no longer unite their party following one of the most. ", Veteran lawmaker Crispin Blunt told Reuters after Sunak met lawmakers in a room in parliament: "The party will remain united, not least because we don't have a choice. LONDON Rishi Sunak will become Britain's next prime minister, prevailing in a chaotic Conservative Party leadership race on Monday after his remaining rival for the position, Penny. Ms Mordaunt was also criticised for the sketchiness of her tax plans, and for proposing to abandon one of Mr Sunaks fiscal rulesthat the government should not borrow to cover day-to-day spending. At 45, he's the youngest prime minister in more than 200 years, the first leader of color, and the first Hindu to take . Rishi Sunak will become Britain's youngest Prime Minister in modern times after he won the race to lead the Conservative Party, tasked with steering a deeply . 2022 FOX News Network, LLC. Johnson, who had announced his intention to resign two months ago, formally stepped down during an audience with Britain's Queen Elizabeth II at Balmoral Castle in Scotland on Tuesday morning. Justin Tallis/Pool/Getty Images Sunak declared on Sunday morning that he. His fiscal response to covid-19 is also the cause of much of the opposition he faces in the party: under Mr Sunak the tax take was due to rise to its highest level in decades. After losing the 2019 leadership contest, he moved to Parliaments backbenches, criticizing the governments approach to the Covid pandemic as chairman of the Health and Social Care Select Committee. But she also expressed strong support for Mr. Johnson after the departure of two of his cabinet ministers on Tuesday, so it remains to be seen whether that loyalty might wound her. "That's why I am standing to be leader of the Conservative Party and your next prime minister. Ms Badenoch started the previous leadership contest as a no-hoper. 24 Oct 2022 Rishi Sunak is favourite to become Britain's next prime minister after Boris Johnson pulled out of the Conservative Party leadership race to replace Liz Truss, who resigned last. Rishi Sunak 7/8 Bet; Penny Mordaunt 15/8 Bet Rishi Sunak, a Conservative MP, is expected to be the next prime minister of the United Kingdom. Rishi Sunak has most recently served as head of Treasury. Before entering Parliament he was a captain in the Scots Guards and served in Northern Ireland. October 24, 2022. Liz Truss, who won the previous . Even he would not have expected to be contemplating a return so quickly. As home secretary she vowed to clamp down on immigrants arriving illegally by boat and to ramp up deportations, but her tough approach clashed with the pro-growth promises of Ms Truss, who favoured immigration as a way of boosting the economy. Sunak, who will be appointed prime minister by King Charles on Tuesday, will also have to work hard to hold Britain's dominant political party together after some accused him of treachery earlier this year when he resigned from the cabinet of former leader Boris Johnson, triggering his downfall too. Sunak was educated at Winchester College. With a General Election currently looking likely over the coming year, the odds on the next Prime Minister are fluctuating regularly. Ms Bravermans time in Liz Trusss government was marginally shorter than that of the prime minister herself. Mr Wallace was a favourite among party members during the early days of the previous leadership contest but chose not to stand, instead endorsing Ms Truss and criticising Mr Sunak for his part in Boris Johnsons undoing. Sunak officially declared he'd be standing on Sunday, after securing the support of 100. Britain has been locked in a state of perma-crisis ever since it voted in 2016 to leave the European Union, unleashing a battle at Westminster over the future of the country that remains unresolved to this day. Check out what's clicking on Foxnews.com. Writing by Kate Holton, additional reporting by Sachin Ravikumar, Muvija M, William James, Paul Sandle, James Davey, Andy Bruce; Editing by Angus MacSwan, Hugh Lawson and Toby Chopra, Egyptian-British hunger striker's family receive 'proof of life' letter, UK's King Charles celebrates 74th birthday with new role, UK and France sign $74 mln agreement to tackle illegal migration, UK: Iran sanctions target those responsible for human rights violations, Villa's resurgence continues with victory at Brighton, Stokes redeems himself six years after West Indies nightmare, King Charles leads Remembrance Day silence for first time as British monarch, Stokes steers England to second T20 World Cup title, UK's Hunt: labour shortages more of an issue than Brexit for economy, See here for a complete list of exchanges and delays, Sunak to become prime minister after winning party race, He will be appointed by King Charles on Tuesday, Warns UK faces a profound economic challenge. London: Rishi Sunak will become Britain's next prime minister on Tuesday, Downing Street said on Monday. The Tories may have hoped a military man could restore some discipline to a fractious party. The former chancellor of the Exchequer will become . [1/4]New leader of the Britain's Conservative Party Rishi Sunak waves outside the Conservative Campaign Headquarters, in London, Britain October 24, 2022. advertisement Britain's former finance minister Rishi Sunak has emerged as the front-runner to be the country's next prime minister, after Boris Johnson dramatically dropped out of the race to be Conservative . Sunak was the runner-up to Truss when she became prime minister on Sept. 5 and replaced Boris Johnson, who had resigned. They also think that he could win more seats in the next election. The first real test of unity will come on Oct. 31, when finance minister Jeremy Hunt - the fourth person in the role in four months - is due to present a budget to plug a black hole in the public finances that is expected to have ballooned to up to 40 billion pounds. (AP pic) LONDON: Rishi Sunak will become British prime minister today after . Mr Sunak was the only Tory leadership candidate to get the backing of at least 100 Conservative MPs, meaning he will become leader without the party's members having a vote. He told his lawmakers in parliament on Monday that they faced an "existential crisis" and must "unite or die". Amid the turmoil, polls show that Britons want an election. Then he got another shot and the chance to say "I told you so.". He became the second MP to officially enter the race, after Penny Mordaunt, on October 23rd. He will be the UK's third prime minister in 2022. Rishi Sunak is set to become the UK's latest Prime Minister this week, replacing the country's shortest-serving leader of all-time, Liz Truss. Rishi Sunak is all set to make history as Britain's first Indian-origin Prime Minister after being elected unopposed as the new leader of the governing Conservative Party on Diwali following Penny Mordaunt's withdrawal from the race. He will be the third prime minister to be annointed this year, following the unceremonious ouster of Liz Truss. UK Foreign Secretary Liz Truss was on Monday declared to be the winner of the Conservative Party leadership race, thus becoming the next Prime Minister of the United Kingdom. During her brief time in office Ms Truss appointed her as leader of the House of Commons. Mutual Fund and ETF data provided by Refinitiv Lipper. # Rishi Sunak. Angela Rayner, deputy leader of the opposition Labour Party, said the Conservatives had "crowned Rishi Sunak as prime minister without him saying a single word about how he would run the country and without anyone having the chance to vote.". A small group is stepping to center stage as Britains political crisis intensifies, including the rival Boris Johnson beat last time. After causing trouble for leaders such. Source: The Wall Street Journal. See here for a complete list of exchanges and delays. LONDON Rishi Sunak will become British prime minister on Monday after other candidates quit the race to lead the Conservative Party, leaving him with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer. by Kubilive - October 24, 2022. According to the latest poll, nearly half of all conservatives think that Rishi Sunak would be a better PM compared to Johnson. In that time he has overseen the withdrawal of British troops from Afghanistan and the military response to Russias war in Ukraine, advocating to send weapons and inviting Ukrainian troops to train with British forces. At the age. Trade minister Sir James Duddridge appeared to. Aston Villa continued their fine start under Unai Emery by coming from behind to win 2-1 at Brighton & Hove Albion on Sunday as two goals from striker Danny Ings helped them to get their first away victory in the Premier League for six months. All rights reserved. Truss, aged 47, will become the third female PM in British political history after travelling to meet the Queen at Balmoral in Scotland on Tuesday. He will be the first British Asian prime minister and is widely tipped as a future leader of his . Delhi 16. c. Mumbai 26. c. Kolkata 23. c. Bangalore 20. c. Chennai 26. c. Rishi Sunak has been app. The former Chancellor was initially opposed by Boris Johnson, who . Reuters. or redistributed. Spice up your small talk with the latest tech news, products and reviews. This material may not be published, broadcast, rewritten, or redistributed. The former Treasury chief will be Britain's first leader of color, and faces the task of stabilizin. Johnson, the face of the Brexit vote, led his party to a landslide victory in 2019, only to be driven out of office less than three years later after a series of scandals. She is a committed Brexiteer and a vigorous battler against identity politics: a speech of hers in the House of Commons in 2020 decrying critical race theory is a favourite among party members. Prime Minister Rishi Sunak and Chancellor Jeremy Hunt met with the leaders of the B5 business groups today. Sunak served as head of Treasury -- formally known as chancellor of the Exchequer -- under Johnson from February 2020 to July 2022. His past as a supporter of remaining in the European Union may hurt him with Conservative members, though he says he now supports Brexit. She had been tipped before as a possible prime minister when serving in 2019 as Theresa Mays defence secretarythe first woman to hold the job (albeit for just 85 days). 1 min read Britain's former finance minister Rishi Sunak on Monday won leadership of the Conservative Party and is set to become the United Kingdom's. October 24th, 2022, 6:24 AM PDT Rishi Sunak, the former Chancellor of the Exchequer, is set to be the UK's next prime minister after his last remaining rival, Penny Mordaunt, pulled out of. Powered and implemented by FactSet Digital Solutions. Quotes displayed in real-time or delayed by at least 15 minutes. Sunak had nearly 190. During the previous leadership contest Ms Mordaunt, a Brexiteer from Portsmouth, emerged as a favourite among the Conservative Partys members. Sunak will become the. The former finance minister won a vote of MPs after Truss's economic plans left. By Alexander Smith. Market data provided by Factset. RISHI Sunak will become the UK's 57th Prime Minister after Tory MPs backed the former chancellor to take the keys to Number 10. Candidates needed to . Mr Wallace has been the defence secretary since 2019. 2022 CNET, a Red Ventures company. He subsequently read philosophy, politics and economics (PPE) at Lincoln College . Ever since Liz Truss sensationally announced she was resigning as PM, there were rumblings in British politics about a possible Johnson comeback. Indian-origin British MP Rishi Sunak, who has won the race to be the leader of the Conservative Party, is all set to become the next . But the endorsement of Michael Gove, a Tory grandee, and a few speeches electrified the partys radical wing. Sajid Javid, 52, the former health secretary whose departure on Tuesday alongside Mr. Sunak helped set off an avalanche of government resignations, has held a number of cabinet positions under both Mr. Johnson and his predecessors Theresa May and David Cameron. Former defense minister Penny Mordaunt has dropped out of the race to replace former U.K. Prime Minister Liz Truss, handing former finance minister Rishi Sunak the victory. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. His withering assessment of Ms Trusss fiscal plans during their campaign debates has proved prescient. He is a divisive figure among Tory MPs: many have balked at the idea that he could throw his hat in the ring. Rishi Sunak, former head of the UK Treasury, won a vote to become the leader of the Conservative Party and thus the next prime minister, the Associated Press reported Monday. And he has a habit of bouncing back from scandal. She was eventually eliminated in the fourth ballot among MPs, after attracting 59 endorsements from colleagues. On October 21st he confirmed that he will not stand in this contest either. The former. 2022. Rishi Sunak is now clear favorite to be Britain's next prime minister after Boris Johnson's withdrawal from the race. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Sunak will be Britain's third prime minister in just seven weeks as he succeeds Truss. One of the wealthiest politicians in Westminster, Sunak will become the country's first leader of . Check back soon for updates. Britains attorney general, Suella Braverman, said on Wednesday that she would also put my name into the ring were Mr. Johnson to resign; she had previously called on him to do so, though without resigning herself. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Mordaunt was the last remaining obstacle to Sunak becoming the U.K.'s next prime minister after former Prime Minister Boris Johnson dropped out of the race on Sunday evening. Powered and implemented by FactSet Digital Solutions. The winner will also become the country's next prime minister. Although Mr Sunak won more support than Ms Truss among MPs, he remains a divisive figure in Parliament. Sunak came to national attention when, aged 39, he became finance minister under Johnson just as the Covid-19 pandemic hit Britain, developing the successful furlough scheme. Delivered on weekdays. "Rishi has my full support. Former Chancellor Rishi Sunak, who warned that Liz Truss' economic plans for Britain were a "fairy tale," won the . Although he is known as a diligent administrator, the anger around his wifes non-domiciled tax status suggests that he may lack the political nous to keep a fractured party and country together. He became the first ethnic minority to hold the post of home secretary when he was appointed to that role in 2018, and unlike many of his fellow Conservative lawmakers, he comes from a modest background: His father was a bus driver. Tuesday, October 25, 2022 Tamil Comments. 25 Oct 2022. But here are some of the people considered favorites to take over the party leadership. REUTERS/Maja Smiejkowska. Before joining the Home Office she was attorney-general. Mordaunt was the last remaining obstacle to Sunak becoming the U.K.'s next prime minister after former Prime Minister Boris Johnson dropped out of the race on Sunday evening. LONDON, Oct 24 (Reuters) - Rishi Sunak was declared the next leader of Britain's Conservative Party by the head of the 1922 Committee of Conservative lawmakers on Monday, placing him on course to be the country's next prime minister. Won a vote of MPs after Truss & # x27 ; s third prime minister winning. The office, rewritten, or redistributed - he will not stand this... Currently looking likely over the coming year, the odds on the next election,... Drops and the latest stories during her brief time in office Ms Truss among MPs, he remains a figure! 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