•Johnson greets new PM, urges party for support
•Truss stresses need to be ‘bold’ in farewell speech
BRITAIN’S new Prime Minister Rishi Sunak has pledged to “fix the mistakes” made by the Liz Truss government and restore the country’s economic stability.
He, however, warned that there would be “difficult decisions to come,” adding that “right now, our country is facing a profound economic crisis”.
Sunak, in his first address to the nation outside 10 Downing Street, said he officially became the prime minister moments ago after King Charles III met him at Buckingham Palace and invited him to form a government.
Sunak said Truss was not wrong to want to improve growth, which was a “noble aim,” but “mistakes were made”.
Truss’s attempt of using debt-funded tax cuts to spur economic growth plunged the British pound to a 37-year low against the U.S. dollar, while pushing up the cost of government borrowing and mortgage rates.
According to Sunak, he was elected the prime minister to “fix” those mistakes.
“I will place economic stability and confidence at the heart of this government’s agenda. This will mean difficult decisions to come,” he said.
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Sunak, 42, inherits an economy on the brink of recession, with an energy crisis, cost-of-living crisis and runaway inflation that defy any easy fix.
The prime minister also said he would deliver on the party’s manifesto, including a stronger National Health Service (NHS), better schools, safer streets, leveling up and building an economy that embraced the opportunities of Brexit.
But, Boris Johnson yesterday congratulated Sunak and urged fellow British Conservatives to give him “their full and wholehearted support.”
The former PM’s words came after he dropped out of the Tory leadership race, claiming he had the nominations needed to make it on to the ballot paper but admitting he could not unite the party.
His withdrawal meant the leadership contest ended on Monday, paving the way for Sunak to become head of the party and, therefore, prime minister.
Shortly after, Sunak’s first speech as prime minister yesterday, Johnson tweeted: “Congratulations to Rishi Sunak on this historic day, this is the moment for every Conservative to give our new PM their full and wholehearted support.”
However, his father-in-law, Indian billionaire N.R. Narayana Murthy, the founder of software giant, Infosys (INFY.NS), said the PM will do his best for Britain when he takes over.