International Affairs

UK Political Crisis LIVE Updates: Rishi Sunak to be Britain’s next prime minister as challenger Mordaunt withdraws from contest

Swift rise to PM, but some doubt Rishi Sunak can win UK elections

The Times of India | Oct 24, 2022, 18:56:42 IST

Rishi Sunak will be the next British prime minister after challenger Penny Mordaunt dropped out of the contest on Monday. Rishi Sunak will be the first person of Indian origin to become British prime minister. Stay with TOI for the latest updates.

As leader of the governing Conservative party, Sunak will take over as prime minister from Liz Truss, who quit last week.

Rishi Sunak was declared the next leader of Britain’s Conservative Party by the head of the 1922 Committee of Conservative lawmakers on Monday, placing him on course to be the country’s next prime minister. The committee sets the rules for selecting and changing the party’s leader.

Sterling supported by news Rishi Sunak to be UK prime minister

Sterling took support on Monday from news former finance minister Rishi Sunak is set to become British prime minister after other candidates quit the race to lead the Conservative Party. The pound was an outlier among major currencies as most others weakened against the U.S. dollar . It rose as far as $1.1402 in Asian trading, after Sunak’s rival Boris Johnson withdrew from the race before the currency pared gains to trade down 0.2% at at $1.1290. Sterling’s moves against the euro were sharper with the common currency falling 0.25% to 87.1 pence.

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