Rishi Sunak has officially become UK prime minister after King Charles III asked him to form a new government during their Tuesday meeting.
Later in the day, Sunak arrived at Downing Street, the British Prime Minister's official residence, where he delivered his first speech as premier. He said that he takes a solemn approach as the country is suffering a profound economic crisis. Speaking about Liz Truss, he said that she was enthusiastic for change, but had made some mistakes. Rishi Sunak added that he will provide economic stability and would “not leave the next generation... with debt to settle," adding that he will unite the country.
Sunak emerged as the sole contender in the Tory leadership race on Monday after his rivals Penny Mordaunt and Boris Johnson both pulled out.
The country's third PM in a year was announced shortly after by Sir Graham Brady, the chair of the 1922 Committee of backbench Tories. During his Monday public address, Sunak pledged "to bring our party and our country together because that is the only way we will overcome the challenges we face."
Earlier on Tuesday, King Charles III accepted the resignation of Liz Truss, who only lasted 44 days as UK prime minister.
On October 24, the 42-year-old former finance minister Sunak became the head of the ruling Conservative Party, and as such, the country's youngest next prime minister since 1812 and the first prime minister of Indian origin.
On Sunday, Sunak, who lost the Conservative leadership race to Liz Truss earlier this year, officially announced that he was running for prime minister after gathering enough support votes from fellow Tories.
Liz Truss announced her resignation as UK prime minister on October 20, less than two months after her appointment as Boris Johnson's successor, becoming the shortest-serving head of government in UK history.