LONDON,Oct 24,2022:Rishi Sunak looked set to become Britain’s next prime minister after his rival Boris Johnson quit the race, admitting that he could no longer unite their party following one of the most turbulent periods in British political history.
Sunak, the 42-year-old former finance minister, could be named leader as soon as Monday to replace Liz Truss, becoming Britain’s third prime minister in less than two months.
The multi-millionaire former hedge fund boss will face one of the most daunting set of challenges, tasked with rebuilding Britain’s fiscal reputation through deep spending cuts as it slides into a recession, dragged down by surging energy, food and mortgage rates.
He will also preside over a party that has bounced from one crisis to the next in recent months, badly split along ideological lines, and a country that is growing increasingly angry at the conduct of its politicians.
“The United Kingdom is a great country but we face a profound economic crisis,” Sunak said in a statement declaring his candidacy on Sunday.
