Rishi Sunak struck a sober tone as he became the 57th Prime Minister in British history - admitting his predecessor made mistakes and saying the UK is in a "profound economic crisis".
In a bleak outlook Mr Sunak - who has been charged with dealing with the mess left by Liz Truss and Boris Johnson - said there would be "difficult decisions" to come.
The new Prime Minister, making his first address after being appointed by the King at Buckingham Palace this morning, promised to deliver on the party's 2019 manifesto.