BREAKING: Former Treasury chief Rishi Sunak is set to become Britain's next prime minister, replacing Liz Truss.
as premier last week. Sunak was able to secure the backing of more than 100 Conservative Party lawmakers, cementing his leadership of the party and therefore, eventually, the country.
His competitor, Penny Mordaunt, dropped out of the race just ahead of the 2 p.m. deadline to secure the necessary amount of backers on Monday, andSunak, who was the treasury secretary under Boris Johnson, has economic experience that some hope will help stabilize a falling pound and skyrocketing inflation and interest rates. The deadline for the next U.K. general election to take place is January 2025.
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