Who is the prime minister of UK now? Is Rishi Sunak accepting the role of UK PM?

Who is the Prime Minister of UK now? Is Rishi Sunak takes on the role of UK PM

Who is the prime minister of UK now?

People from all around the world were eager to know who is the prime minister of the UK now. 

Rishi Sunak is Britain’s third new UK prime minister in less than two months, at a time when the country is facing a “deep economic challenge” and his Conservative Party is struggling to heal dividing scars from months of internal fighting.

He now heads the Conservatives with such a sizable majority in the parliament acquired ever since the 2019 general election, where his old boss Boris Johnson helped the centre-right party win seats in areas of the country that had never before voted for the party.

New UK prime minister announcement

Rishi Sunak accepting the role of UK PM
Britain’s new Prime Minister Rishi Sunak waves in front of Number 10 Downing Street, in London, Britain, October 25, 2022. REUTERS/Hannah McKay

Rishi Sunak officially accepted his new position as Britain’s new prime minister from King Charles during his meeting at Buckingham Palace. Sunak said to the media throng assembled in front of No. 10 Downing Street’s iconic front door that it is only right that he explains why he is standing there as the new UK prime minister.

Our nation is currently experiencing a tremendous economic crisis, and COVID’s impacts continue to be felt, he said. 

The first man of colour to rule Britain

The mega rich former banker who is the first man of colour to rule Britain. 

Rishi Sunak, who is the prime minister of Britain now will have about two years to restore trust between his members that they can remain in power at the following national election after twelve years of ruling the government since Liz Truss’ failed leadership left the Conservative poll results at historic lows.

Rishi Sunak is up against a massive challenge

According to Bronwen Maddox, CEO of the London-based think tank Chatham House, “it’s the Conservative Party’s final opportunity to install a prime minister who could achieve some level of stabilisation.” 

She thinks British prime minister Rishi Sunak now needs to attempt to lay out an economic strategy and a plan for the nation that offers the country some assurance and could possibly bring his party  a sense of oneness.

It is a massive challenge for Sunak to establish some measure of stability.

Market’s response on the new uk prime minister

  • The financial markets have responded favourably to his appointment, and the country’s new finance minister, Jeremy Hunt, cancelled the tax cuts promoted by Truss and her colleagues, so creating that economic plan will be a little bit easier now compared to it being even two weeks ago. 
  • Hunt’s ability to act as a stabilising factor could help him keep the position Liz Truss gave him.
  • Due to the market’s response, the cost of borrowing money from the government has decreased to where it was before Truss took office, which has reduced government expenditure on interest and improved Sunak’s ability to keep the books balanced when borrowing money to pay for long-term expenditures. 
  • However, he will still have to struggle with high rates of inflation, rising energy costs, and a skyrocketing cost of living.

Rishi Sunak is back in the spotlight after Liz Truss resigns.

Rishi Sunak is now finally the official prime minister of the UK after Liz Truss resigned.

Liz Truss’ poor approach to the nation’s economic issues, according to Maddox of the nonpartisan Chatham House, has given the new UK prime minister Rishi Sunak more freedom to be honest with the people about the unavoidable compromises and make a few of the more difficult economic measures.

He now has additional evidence to back up his claim that we must be extremely fiscally cautious, she adds. It’s truly a challenging time because we need to explain where the money for the expenditures comes from. In some situations, that will mean raising taxes, and in others, it will mean cutting back on spending.

Sunak’s honeymoon period will certainly last longer than that of his predecessor. One aspect of the Conservative Party’s primary supporter base that he has soothed is the bond markets. 

His prospects with the electorate, though, are less certain.  Political parties act as if leaders actually do affect people’s voting decisions. Given that he is the third Conservative leader and new UK prime minister since the last election in 2019, his credibility with the voters is not as solid as it could be.

President Biden plans to meet with the new Prime Minister of uk

The White House Press Secretary stated that President Biden is expecting to meet with the new uk prime minister 2022 in the upcoming days. They did, though, note that it was the “tradition for the President to wait till the new Prime Minister of uk has visited  the monarch and been appointed to establish a new government before extending his congratulations.” Know more about Rishi Sunak new PM

Modi’s tweet for Britain’s new prime minister

Narendra Modi, the prime minister of India, tweeted “Special Diwali greetings” to Mr. Sunak & “the living bridge of UK Indians, while we turn our cultural ties into a modern relationship.”

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