Rishi Sunak is due to be installed as Britain’s third prime minister of the year by King Charles III. His first task? Appointing a Cabinet that can tackle Britain's economic and political crises.
Truss wished Sunak success as Britain continues “to battle through a storm.”
His top priorities will be appointing Cabinet ministers, and preparing for a budget statement that will set out how the government plans to come up with billions of pounds to fill a fiscal hole created by soaring inflation and a sluggish economy, and exacerbated by Truss’ destabilizing economic experiments.
Sunak, who was Treasury chief himself for two years until July, said Monday that Britain faces “a profound economic challenge.”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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