Rishi Sunak will become Britain's next prime minister after he won the race to lead the Conservative Party. The former finance minister is Britain's third prime minister in less than two months
, 42, will become the country's youngest leader in modern times - and its third in less than two months - as he takes over during one of the most turbulent eras in British political history.
A recent mini budget by Truss, which triggered her downfall, pushed up borrowing costs and mortgage rates, and sent investors fleeing.
Johnson, the face of the Brexit vote, led his party to a landslide victory in 2019, only to be driven out of office less than three years later after a series of scandals. His successor Truss lasted just over six weeks before she too was forced out. Amid the turmoil, polls show that Britons want an election. The Conservatives do not have to hold one until January 2025.
welcomed Sunak's appointment, but questioned whether he can tackle the country's finances while holding the party's warring factions together. The task will be helped by a recovery in the bond market, with the 30-year gilt , which suffered unprecedented losses after the mini-budget on Sept. 23, now recovered to levels close to those seen early on that day.
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