Rishi Sunak is the new UK Prime Minister after being formally appointed by King Charles III. The former chancellor was confirmed at a private audience with the King on Tuesday morning after Liz Truss, the shortest-reigning PM in history, formally tendered her resignation after just 49 days in office.
Addressing the nation from outside Downing Street afterwards Mr Sunak said the country was "facing a profound economic crisis" and that "mistakes were made" by Ms Truss' government, which faced major backlash and market turmoil after a disastrous mini-budget just week into her premiership. Mr Sunak said: "I have been elected as leader of my party and your Prime Minister in part to fix them and that work begins immediately."
As the face many recognise as overseeing the government's finances during the pandemic and major schemes such as Eat Out to Help Out the new Prime Minister's track record and public pronouncements offer a glimpse of what his leadership could mean for your money.
