Rishi Sunak will be the fifth British prime minister in six years, the third in less than two months. He is Britain's first Hindu prime minister, and the country's first leader of color.
Former Treasury chief Rishi Sunak beat out Boris Johnson and Penny Mordaunt after Liz Truss resigned after just six weeks.LONDON – Former finance minister Rishi Sunak completed a political comeback Monday, when he was selected prime minister by Britain's ruling Conservative Party, just seven weeks after he was beaten to office by Liz Truss.
Forecasts suggest its economy has already fallen into recession and the country is being hit with some of the highest energy and borrowing costs in Europe, the latter exasperated by Truss' move to aggressively cut taxes, which spooked bond market investors and led to a warning from the International Monetary Fund that it would further push up prices.Sunak is a former banker and served as Chancellor of the Exchequer – finance minister – in Boris Johnson's government.
Truss was the fourth British prime minister to resign since the country's 2016 vote to leave the European Union. Brexit, an economic and legal divorce, has ushered in unprecedented political division and chaos in a nation that is typically revered for being a model of stable and dependable governance. The Bank of England, Britain's central bank, was forced to buy government bonds known as"gilts" after Truss unveiled a series of aggressive tax cuts days after taking office.
U.S. lawmakers have expressed concern that if the protocol is not respected it could threaten fragile peace in Northern Ireland.
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