Rishi Sunak warned that the UK faces a "profound economic challenge" in his first speech as the new Conservative leader and the next Prime Minister.
In a speech at Conservative Party headquarters, Mr Sunak said: "I am humbled and honoured to have the support of my parliamentary colleagues and to be elected as leader of the Conservative and Unionist Party. It is the greatest privilege of my life, to be able to serve the party I love and give back to the country I owe so much to."
Speaking about the turbulent times the country faces, the newly elected leader added: "The United Kingdom is a great country but there is no doubt we face a profound economic challenge. We now need stability and unity and I will make it my utmost priority to bring our party and our country together."
