Rishi Sunak becomes British PM after meeting with King Charles III

LONDON — Conservative Party leader Rishi Sunak formally became Britain’s new prime minister Tuesday after meeting with King Charles III at Buckingham Palace in London, according to The Associated Press.

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Sunak vows to restore ‘economic stability’ as new PM

Update 7:31 a.m. EDT Oct. 25: In his first address as British prime minister, Rishi Sunak vowed to restore “economic stability and confidence” while he is in office, according to the AP.

“Right now, our country is facing a profound economic crisis,” he began. “The aftermath of COVID still lingers. [Russian President Vladimir] Putin’s war in Ukraine has destabilized energy markets and supply chains the world over.”

He went on to praise his predecessor, Liz Truss, saying she “was not wrong to want to improve growth” but made some mistakes.

“I have been elected as leader of my party and your prime minister in part to fix them, and that work begins immediately,” he said. “I will place economic stability and confidence at the heart of this government’s agenda. This will mean difficult decisions to come.”

He then promised to lead with compassion.

“The government I lead will not leave the next generation – your children and grandchildren – with a debt to settle that we were too weak to pay ourselves,” he said, according to The Guardian. “I will unite our country, not with words but with action. I will work day in and day out to deliver for you. This government will have integrity, professionalism and accountability at every level. Trust is earned, and I will earn yours.”

Sunak becomes UK’s new PM; Truss formally resigns

Update 6:31 a.m. EDT Oct. 25: Rishi Sunak has formally taken office as the next prime minister of the United Kingdom, according to PA Media.

Sunak’s appointment came Tuesday during a meeting with King Charles III at Buckingham Palace in London, the news agency reported.

Shortly beforehand, outgoing Prime Minister Liz Truss also met with the king and formally resigned.

Liz Truss delivers final speech as UK prime minister

Original report: After a brief seven weeks in office, Liz Truss has delivered her final speech as the prime minister of the United Kingdom.

According to the AP, Truss, 47, addressed a group of political allies and family members Tuesday morning outside No. 10 Downing St. before she was set to offer her official resignation to King Charles III. Her successor, Conservative Party leader Rishi Sunak, will then meet with the king and be appointed prime minister, the news agency reported.

Truss, who took office Sept. 6 and announced her resignation after just 45 days, began her address by calling her time as prime minister “a huge honor,” ITV News reported. She pointed specifically to how she led the public in mourning Queen Elizabeth II – who died just two days into Truss’ term – and welcoming the new king.

“In just a short period, this government has acted urgently and decisively on the side of hardworking families and businesses,” Truss continued, according to The Guardian. “We reversed the national insurance increase. We helped millions of households with their energy bills and helped thousands of businesses avoid bankruptcy. We are taking back our energy independence so we are never again beholden to global market fluctuations or malign foreign powers.”

She added that the government must take bold actions while facing challenges, The Guardian reported.

“We need to take advantage of our Brexit freedoms to do things differently. This means delivering more freedoms for our own citizens,” she said, citing lower taxes as an example.

Truss concluded by wishing Sunak success in his new role, according to the newspaper. The 42-year-old former finance chief will be the first person of color to serve as prime minister, CNN reported.

– The Associated Press contributed to this report.

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Photos: Rishi Sunak becomes British PM after meeting with King Charles III British Prime Minister Rishi Sunak makes a statement after taking office outside No. 10 Downing St. on October 25, 2022, in London. (Leon Neal/Getty Images)

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Photos: Liz Truss resigns as British prime minister Prime Minister Liz Truss announces her resignation at 10 Downing St. on October 20, 2022, in London. Truss has been the UK Prime Minister for just 44 days. (Leon Neal/Getty Images)

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